Document ID: chunk:federal_register_of_legislation:C2025C00185:section:9:p14
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 9 (pt 14/63)
Character Range: 110162–112781

more than nominal consideration, for the issue or transfer of fully paid ordinary shares;
 (iii) units in fully paid ordinary shares;
 (b) the deductions are authorised by the contributor in a form which is included in, or accompanies, the disclosure document or the Product Disclosure Statement for the scheme;
 (c) before acquiring the financial products under the scheme, the deductions are held on trust in an account with an Australian ADI that is kept solely for that purpose;
 (d) the contributor may elect to discontinue the deductions at any time;
 (e) if the contributor so elects, the amount of the deductions standing, at that time, to the credit of the account for the contributor, and any interest on that amount, is repaid to the contributor;
 (f) the scheme does not involve the offer to the contributor of a loan or similar financial assistance for the purpose of, or in connection with, the acquisition of the financial products that are offered under the scheme.
contributory means:
 (a) in relation to a company (other than a no liability company):
 (i) a person liable as a member or past member to contribute to the property of the company if it is wound up; and
 (ii) for a company with share capital—a holder of fully paid shares in the company; and
 (iii) before the final determination of the persons who are contributories because of subparagraphs (i) and (ii)—a person alleged to be such a contributory; and
 (b) in relation to a Part 5.7 body:
 (i) a person who is a contributory by virtue of section 586; and
 (ii) before the final determination of the persons who are contributories by virtue of that section—a person alleged to be such a contributory; and
 (c) in relation to a no liability company—subject to subsection 254M(2), a member of the company; and
 (d) in relation to a sub‑fund of a CCIV—a person who is a contributory of the CCIV under paragraph (a), if the person is liable as mentioned in subparagraph (a)(i) as a member or past member of the sub‑fund, or is a holder of shares referable to the sub‑fund.
control:
 (a) unless paragraph (b) applies—has the meaning given by section 50AA; and
 (b) when used in Part 7.6—has the meaning given by section 910B.
control day, in relation to a controller of property of a corporation, means:
 (a) unless paragraph (b) applies:
 (i) in the case of a receiver, or receiver and manager, of that property—the day when the receiver, or receiver and manager, was appointed; or
 (ii) in the case of any other person who is in possession, or has control, of that property for the purpose of enforcing a security interest—the day when the