New South Wales Consolidated Acts

GAS INDUSTRY RESTRUCTURING ACT 1986 - SECT 46

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.