Document ID: chunk:federal_register_of_legislation:C2004A00656:clause:1_32a
Version: federal_register_of_legislation:C2004A00656
Segment Type: clause
Provision Reference: sch 1 cl 32A
Character Range: 8875–9425

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.