13Issue of shares by NHL

#### 13 Issue of shares by NHL 13 Issue of shares by NHL > > (1) If— > > > > > (a) AMP is converted to a company limited by shares under this Part, and > > > > > (b) on the conversion— > > > > > > > (i) NHL beneficially owns all of the shares in AMP, or > > > > > > > (ii) if one or more holding companies are interposed between AMP and NHL, no person other than NHL or a holding company of AMP is the beneficial owner of any shares in AMP or in any such interposed holding company, > > > > then— > > > > > (c) NHL must give effect to the demutualisation and reconstruction of AMP by issuing fully paid shares in NHL to the persons identified by a method referred to under section 7 (2) (g) (ii) in the manner stated under section 7 (2) (g) (iii), and > > > > > (d) each person to whom NHL issues shares is taken to have agreed (immediately before the issue of the shares) to become a member of NHL. > > > (2) For the avoidance of doubt, and despite any provision of the Companies Code or the [Corporations Law](/view/html/inforce/current/sl-1999-0703), nothing in the Code or Law requires NHL to transfer any amount to a share premium account otherwise than as set out in the statement given in accordance with section 7 (2) (g) (iii). > > > (3) If shares are issued according to this section, no court or tribunal is to make an order reversing the issue of the shares.