New South Wales Consolidated Acts

GAS INDUSTRY RESTRUCTURING ACT 1986 - SECT 40

40 Shareholding-interpretation

(1) For the purposes of this Part, a person holds shares in The Australian Gas Light Company if the person would, for the purposes of the Companies (Acquisition of Shares) (New South Wales) Code , be regarded as being entitled to the shares.

(2) The expressions "shareholder" and "shareholding" have a corresponding meaning.

(2A) It is declared that the provisions of this Part that refer to, or apply to a matter, provisions of the Companies (New South Wales) Code or the Companies (Acquisition of Shares) (New South Wales) Code have effect (and are taken at all times on or after their commencement to have had effect) according to their tenor and despite any provision of the Corporations (New South Wales) Act 1990 or the applicable provisions (as defined in that Act) of the State.

(2B) Expressions used in this Part have, unless the contrary intention appears, the same meanings respectively as they have in the Companies (New South Wales) Code .

(2C) For the purposes of this Act (including the application or use for interpretative purposes by or under this Part of a provision of the Companies (New South Wales) Code or the Companies (Acquisition of Shares) (New South Wales) Code ), the Australian Gas Light Company and all gas distributors that are subsidiaries of The Australian Gas Light Company are taken to be companies within the meanings of those Codes.

(3) In this Part, The Australian Gas Light Company is referred to as "the Company".

(4) In this Part, a reference to a "realised capital gain" in relation to a share is a reference to any capital gain realised by the shareholder on the disposition of the share less any tax paid or payable by the shareholder in respect of that gain under a law of this State or the Commonwealth.