Part 11Restrictions on the acquisition of interests in co‑operatives

Part 11 — Restrictions on the acquisition of interests in co‑operatives

Division 1 — Restrictions on share and voting interests

274. Application of Part 253

275. Notice required to be given of voting interest 253

276. Notice required to be given of substantial share interest 253

277. Requirements for notices 254

278. Maximum permissible level of share interest 254

279. Transitional provision 255

280. Shares to be forfeited to remedy contravention 256

281. Powers of board in response to suspected contravention 256

282. Powers of Supreme Court in relation to contravention 257

283. Co‑operative to notify Registrar of interest over 20% 257

284. Co‑operative to keep register 258

285. Unlisted companies to provide list of shareholders etc. 258

286. Excess share interest not to affect loan liability 259

287. Extent of operation of Division 259

288. Registrar may grant exemption from Division 260

Division 2 — Restrictions on certain share offers

289. Share offers to which Division applies 260

290. Requirements to be satisfied before offer can be made 261

291. Some offers totally prohibited if they discriminate 261

292. Offers to be submitted to board first 261

293. Announcements of proposed takeovers concerning proposed company 262

294. Additional disclosure requirements for offers involving conversion to company 264

295. Consequences of prohibited offer 264

296. Registrar may grant exemptions 265