South Australian Consolidated Acts South Australian Consolidated Acts30—Consent to certain share transfers in pastoral company
(1) Where a
company—
(a) is a
lessee under a pastoral lease; or
(b) is a
party to an agreement for the transfer, assignment, mortgage or subletting of
a pastoral lease to the company,
no change in the ownership of the shares of the company can be effected
without the prior consent of the Minister, if the change in ownership would
result in a controlling interest in the company being held by some person, or
by some other person than the present holder of such an interest.
(2)
Subsection (1) does not apply to a change in ownership of shares effected
by a will or other testamentary disposition.