Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p192
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 192/212)
Character Range: 498804–501448

and

SCHEDULE 5—continued

     (c) specifies the number of issued shares in that class as at the time immediately after the cancellation.

Notifying members generally

"206ub. (1) Subsection (3) applies where, as at the end of a day on which shares in a class of voting shares in a company that is a listed body are transferred to the company pursuant to an agreement constituting a buy-back made under a buy-back scheme, each agreement constituting a buy-back made under the buy-back scheme has been discharged, whether by performance or otherwise, or rescinded.

"(2) Subsection (3) also applies where, as at the end of a day on which shares in a class of voting shares in a company that is a listed body were transferred to the company, the number worked out using the following formula exceeds 5:
(Previous issued shares – Current issued shares) × 100
Previous issued shares

where:

'Previous issued shares' means the number of issued shares in that class as at:

     (a) if the company has previously become required to give under this section notices relating to shares in that class—the time when the company last became so required; or

     (b) otherwise—the start of the first day on which shares in that class were transferred to the company after the commencement of this Part;

'Current issued shares' means the number of issued shares in that class as at the end of the first-mentioned day.

"(3) Within 2 business days after the day first referred to in subsection (1) or (2), as the case may be, the company must send to each of its members a written notice specifying:

  (a) the day on which the notice is sent; and

     (b) the number of issued shares in that class as at the beginning of the last-mentioned day.

"(4) For the purposes of subsection (2), a company that this section requires to send notices because of a transfer of shares is to be taken to have become, at the end of the day of the transfer, required to give the notices.

"Subdivision V—Register of Buy-backs

Company to keep register

  "206va. A company:

   (a) whose articles contain a buy-back authorisation; or

SCHEDULE 5—continued

  (b) that has at any time bought back shares;

must establish a register for the purposes of this Division and keep it in accordance with this Subdivision.

Particulars of buy-back schemes

"206vb. (1) As soon as practicable after making offers under a buy-back scheme, the company must include in the register a copy of one of the offers.

"(2) As soon as practicable after an offer made by the company under a buy-back scheme is accepted, the company must make in the register an entry that refers to the