Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) A company is not eligible to become an agent company unless at least 50% of the beneficial interest in its shares vests in ACTEW.
(2) ACTEW may reduce its beneficial interest in the shares of an agent company to less than 50% only in accordance with a resolution of the Legislative Assembly.
(3)
The grant of a mortgage or the giving of security over shares in an
agent company is not a reduction of beneficial interest for subsection (2) if
done with the consent required under the
Territory-owned Corporations Act
1990 , section 16 (1) and in accordance with any conditions to which
the consent may be subject.