GAS INDUSTRY RESTRUCTURING ACT 1986 - SECT 46
Powers of AGL
GAS INDUSTRY RESTRUCTURING ACT 1986 - SECT 46
Powers of AGL
46 Powers of AGL
(1) When the Company is aware that a shareholding is a
contravention of section 41, voting rights attached to the shares are
restricted by this section.
(2) The voting rights attached to shares
comprising the shareholding may be exercised only in respect of that part of
the shareholding which represents not more than 5 per cent of the issued share
capital of the Company.
(3) On the application of the Company, the Supreme
Court may make any order which the Minister is empowered to make under
section 45.
(4) The Company shall give the Minister at least 30 days' notice
in writing before applying to the Supreme Court unless the Minister waives the
requirement for notice in a particular case.
(5) An order of the Supreme
Court operates to the exclusion of any order of the Minister with which it
would be inconsistent.
