New South Wales Consolidated Acts

GOVERNMENT INSURANCE OFFICE (PRIVATISATION) ACT 1991 - SECT 29

29 Sale of GIO by public float

(1) The Minister may make arrangements for the sale of GIO by a public float, comprising the disposal of the shares issued to the State under Part 2 and the initial issue of shares by GIO after its conversion to repay the debt to the State created under Part 2.

(2) The arrangements may include underwriting agreements and the issue of a prospectus.

(3) This section does not require all the money paid for the initial issue of shares to be applied to the repayment of the debt to the State.