Document ID: chunk:federal_register_of_legislation:C2025C00014:section:121ah
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 121AH
Character Range: 1029228–1030179

121AH  Demutualisation method 3
 (1) Under demutualisation method 3, in connection with the implementation of the demutualisation:
 (a) all membership rights in the mutual insurance company are extinguished; and
 (b) shares in the mutual insurance company are issued to another company (the holding company); and
 (c) shares (the ordinary shares) of only one class in:
 (i) the holding company; or
 (ii) another company (the ultimate holding company) of which the holding company is a wholly‑owned subsidiary, either directly or through one or more other wholly‑owned subsidiaries (each of which is an interposed holding company);
  are issued to each person in the policyholder/member group; and
 (d) the ordinary shares are listed within the listing period.
Note: Other things may also happen in connection with the implementation of the demutualisation.
 (2) The following diagram shows the main events, where this demutualisation method is used.