Australian Capital Territory Repealed Acts

This legislation has been repealed.

COOPERATIVES ACT 2002 (REPEALED) - SECT 159

    (1)     A person must notify the cooperative in accordance with this section of the change in the person's shareholding in the cooperative if the person—

        (a)     begins to hold any shares beneficially that the person currently holds non-beneficially; or

        (b)     begins to hold any shares non-beneficially that the person currently holds beneficially.

Maximum penalty: 10 penalty units.

    (2)     The notice must—

        (a)     state the name and address of the person; and

        (b)     contain a statement to the effect that, as from the time of the change, the person holds the shares beneficially or non-beneficially (as appropriate); and

        (c)     state the time of the change and particulars of the shares affected; and

        (d)     be signed by or on behalf of the person.

    (3)     The notice must be given within 14 days after the day the change happens (even if before the end of that 14 days another such change affecting any of the shares happens).