New South Wales Consolidated Acts

AUSTRALIAN MUTUAL PROVIDENT SOCIETY (DEMUTUALISATION AND RECONSTRUCTION) ACT 1997 - SECT 9

9 Effect of certificate of conversion

(1) AMP is converted to a company limited by shares by the operation of this section and by virtue of the issue of the certificate of conversion.

(2) Subject to section 11 (3), the conversion of AMP to a company limited by shares, and any conversion resolution, take effect at the time and on the day specified in the certificate of conversion, or if no time and day are specified, at midday on the day on which the certificate is issued.

(3) Different times or different days may be specified for the conversion to have effect, but in no case can a time or day be specified that is earlier than midday on the day on which the certificate is issued.

(4) In any proceeding, the certificate of conversion is conclusive evidence that:

(a) all requirements of this Part have been complied with, and

(b) AMP is a company limited by shares as at the time and day on which the conversion takes effect.

(5) If the Attorney General issues the certificate of conversion, no court or tribunal is to make an order reversing the issue of the certificate or the conversion of AMP to a company limited by shares.