Co-operatives National Law (Queensland)
sch.2-sec.5Deemed relevant interest in advance of performance of agreement that will give rise to a relevant interest
Start here
Get a plain-English read of sch.2-sec.5
Turn the raw legal text into a practical explanation grounded in Co-operatives National Law (Queensland).
sch.2-sec.5 Deemed relevant interest in advance of performance of agreement that will give rise to a relevant interest
If— a person— has entered into an agreement with another person with respect to an issued share or right to vote in which the other person has a relevant interest; or has a right enforceable against another person in relation to an issued share or right to vote in which the other person has a relevant interest, whether the right is enforceable presently or in the future and whether or not it is enforceable on the fulfilment of a condition; or has an option granted by another person, or has granted to another person an option, with respect to an issued share or right to vote in which the other person has a relevant interest; and the first-mentioned person would have a relevant interest in the share or right to vote on performance of the agreement, enforcement of the right, or exercise of the option; the first-mentioned person is taken for the purposes of this Part to have that relevant interest in the share or right to vote.
- (a) a person— (i) has entered into an agreement with another person with respect to an issued share or right to vote in which the other person has a relevant interest; or (ii) has a right enforceable against another person in relation to an issued share or right to vote in which the other person has a relevant interest, whether the right is enforceable presently or in the future and whether or not it is enforceable on the fulfilment of a condition; or (iii) has an option granted by another person, or has granted to another person an option, with respect to an issued share or right to vote in which the other person has a relevant interest; and
- (i) has entered into an agreement with another person with respect to an issued share or right to vote in which the other person has a relevant interest; or
- (ii) has a right enforceable against another person in relation to an issued share or right to vote in which the other person has a relevant interest, whether the right is enforceable presently or in the future and whether or not it is enforceable on the fulfilment of a condition; or
- (iii) has an option granted by another person, or has granted to another person an option, with respect to an issued share or right to vote in which the other person has a relevant interest; and
- (b) the first-mentioned person would have a relevant interest in the share or right to vote on performance of the agreement, enforcement of the right, or exercise of the option;
- (i) has entered into an agreement with another person with respect to an issued share or right to vote in which the other person has a relevant interest; or
- (ii) has a right enforceable against another person in relation to an issued share or right to vote in which the other person has a relevant interest, whether the right is enforceable presently or in the future and whether or not it is enforceable on the fulfilment of a condition; or