Document ID: chunk:federal_register_of_legislation:C2024C00541:section:32a
Version: federal_register_of_legislation:C2024C00541
Segment Type: section
Provision Reference: s 32A
Character Range: 49059–49652

32A  PDFs may merge
 (1) A PDF (the investor PDF) may acquire shares in another PDF (the investee PDF) if, and only if, the acquisition is part of a process of the 2 PDFs merging into one PDF.
 (2) Any consideration given to the shareholders in the investee PDF for the acquisition must be in the form of:
 (a) shares in the investor PDF; or
 (b) a genuine dividend payable from any undistributed profits of the investee PDF;
or both.
 (3) The investor PDF must give the Board written notice before making an acquisition allowed by this section.

Division 3—Board's powers to give directions