Document ID: chunk:federal_register_of_legislation:C2004A05165:clause:1_33e
Version: federal_register_of_legislation:C2004A05165
Segment Type: clause
Provision Reference: sch 1 cl 33E
Character Range: 14102–15467

33E  Transfer of minority interests in AIDC Ltd to the Corporation

 (1) This section applies to a person (other than the Corporation) if the person legally owns one or more shares in AIDC Ltd.

 (2) The Minister for Finance must, before 1 July 1998, by writing, make any or all of the following declarations:
 (a) a declaration that the legal and beneficial interests in all of those shares vest in the Corporation at a specified time without any conveyance, transfer or assignment;
 (b) a declaration that a specified instrument relating to any or all of those shares continues to have effect after the legal and beneficial interests in those shares vest in the Corporation as if a reference in the instrument to the person were a reference to the Corporation;
 (c) a declaration that the Corporation becomes the person's successor in law in relation to those shares immediately after the legal and beneficial interests in those shares vest in the Corporation.

 (3) A declaration under subsection (2) has effect accordingly.

 (4) A copy of a declaration under subsection (2) is to be published in the Gazette within 14 days after the making of the declaration.

 (5) A time specified under paragraph (2)(a) must be a time when the percentage of the total paid-up share capital of AIDC Ltd in which the Corporation holds a beneficial interest is at least 90%.