Document ID: chunk:federal_register_of_legislation:C2004A00986:clause:10_6
Version: federal_register_of_legislation:C2004A00986
Segment Type: clause
Provision Reference: sch 10 cl 6
Character Range: 66395–67513

6  Paragraph 326‑60(2)(b) of Schedule 2H
Repeal the paragraph, substitute:
 (b) where the demutualisation is implemented by the method set out in section 326‑45, 326‑50 or 326‑55—of the ordinary shares in the demutualised entity or holding company that are issued in connection with the demutualisation (the issued shares), the total number that are issued to existing members or to a trustee on behalf of existing members constitutes at least 90% of the issued shares; and
 (ba) where the demutualisation is implemented by the method set out in section 326‑52:
 (i) of the ordinary shares in the demutualised entity that are issued to members other than the holding company in connection with the demutualisation (the issued entity shares), the total number that are issued to existing members constitutes at least 90% of the issued entity shares; and
 (ii) of the ordinary shares in the holding company that are issued in connection with the demutualisation (the issued holding company shares), the total number that are issued to existing members constitutes at least 90% of the issued holding company shares; and