Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Under demutualisation method 3 , in connection with the implementation of the demutualisation:
(a) all membership rights in the mutual insurance company are extinguished; and
(b) shares in the mutual insurance company are issued to another company (the holding company ); and
(c) shares (the ordinary shares ) of only one class in:
(ii) another company (the ultimate holding company ) of which the holding company is a wholly - owned subsidiary, either directly or through one or more other wholly - owned subsidiaries (each of which is an interposed holding company );
are issued to each person in the policyholder/member group; and
(d) the ordinary shares are listed within the listing period.
Note: Other things may also happen in connection with the implementation of the demutualisation.
(2) The following diagram shows the main events, where this demutualisation method is used.
