New South Wales Consolidated Acts New South Wales Consolidated Acts(cf Vic Act s 355)
(1) The transferee under the scheme or contract may, within 2 months after the offer is so approved, give notice as prescribed (a "compulsory acquisition notice") to a dissenting shareholder that the transferee wishes to acquire the shares held by that shareholder.
(2) When such a notice is given, the dissenting shareholder may, by written notice given to the transferee within one month after the day on which the notice was given, ask for a statement in writing of the names and addresses of all other dissenting shareholders as shown in the register of members and the transferee must give that statement.
(3) Having given the notice, the transferee is, unless the Court orders to the contrary, entitled and bound to acquire those shares on the terms on which, under the scheme or contract, the shares of the approving shareholders are to be transferred to the transferee.
(4) An order to the contrary by the Court may be given only on the application of the dissenting shareholder made within 28 days after the compulsory acquisition notice was given or within 14 days after any statement asked for under subsection (2) was given, whichever is the later.
(5) If alternative terms are offered to the approving shareholders:(a) the dissenting shareholder is entitled to elect which of those terms are preferred but must make that election within the time allowed for the making of an application to the Court under subsection (4), and(b) if the dissenting shareholder fails to make the election within that time, the transferee may, unless the Court otherwise orders, determine which of those terms is to apply to the acquisition of the shares of the dissenting shareholder.