New South Wales Consolidated Acts

GAS INDUSTRY RESTRUCTURING ACT 1986 - SECT 41

41 Maximum shareholding in AGL

(1) A person may hold shares in the Company which represent up to, but shall not knowingly hold shares which represent more than, 5 per cent of its issued share capital.

Penalty: 5,000 penalty units.

(2) The Minister may approve in writing of a person holding a specified greater proportion of the issued share capital of the Company and a person who holds shares in accordance with the approval does not contravene this section.

(3) This section applies to the exclusion of any provision of the AGL Corporate Conversion Act 2002 (or any law applied to the Company by that Act) concerning the maximum shareholding in the Company.

(4) This section applies to a shareholding whether it commenced before, on or after the commencement of this section.