New South Wales Consolidated Acts

AUSTRALIAN MUTUAL PROVIDENT SOCIETY (DEMUTUALISATION AND RECONSTRUCTION) ACT 1997 - SECT 19

19 Limit on entitlement to NHL shares

(1) Except as provided in this Part, a person must not acquire shares in NHL during the restriction period if any person who:

(a) is not entitled to any shares in NHL, or

(b) is entitled to less than 5% of the shares in NHL,

would, immediately after the acquisition, be entitled to 5% or more of the shares in NHL.

(2) Except as provided in this Part, a person who is entitled at any time during the restriction period to 5% or more of the shares in NHL must immediately cause that entitlement to be reduced to less than 5%.

(3) For the purposes of this Part, while a person is entitled, at any time during the restriction period, to 5% or more of the shares in NHL, each share to which the person is entitled is a default share.