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WOOL INTERNATIONAL PRIVATISATION ACT 1999No. 40, 1999 - SECT 19
Dealings by TrusteeCo with shares held in respect of unclaimed units or wrong-name units
(1) This section applies to shares that are held by TrusteeCo and were taken
to be issued to TrusteeCo:
(2) TrusteeCo holds the shares on trust until they are transferred in
accordance with subsection (6).
(3) TrusteeCo holds on trust any dividends that it receives in respect of the
shares.
(4) Section 22Y of the Wool International Act applies in relation to the
dividends in the same way as it applies in relation to distributions received
by TrusteeCo in respect of units.
Note: Section 22Y of the Wool International
Act allows TrusteeCo to invest, and requires income from investment to be paid
to WoolStock Australia Limited.
(5) If, at the finalisation time, TrusteeCo holds any shares that are not
required to be transferred in accordance with subsection (6), then:
(a)
TrusteeCo must pay to WoolStock Australia Limited the amount of any dividends
that TrusteeCo has received in respect of those shares; and
(b) those shares are cancelled at the finalisation time, by force of this
subsection.
(6) If the register is amended before the finalisation time so that:
(a) in
the case of unclaimed units--the register shows the correct name of the person
who is entitled to be registered in respect of the units and no
longer shows the units as "unclaimed entitlements"; or
(b) in the case of wrong-name units--the register shows the correct name
of the person who is entitled to be registered in respect of the
units;
then TrusteeCo must:
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