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Co-operatives National Law Application Act 2013
379Consequences of prohibited offer
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379 Consequences of prohibited offer
(1) If a person makes an offer to purchase shares in a co-operative in contravention of this Division:
(a) the person cannot be registered as the holder of the shares concerned; and
(b) if the transfer of the shares is registered—the person cannot vote at a meeting of the co-operative.
(2) A vote cast by or for a member when the member cannot vote because of this section must be disregarded.