Co-operatives National Law (Queensland)
sec.367Co-operative to inform Registrar of interest over 20%
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sec.367 Co-operative to inform Registrar of interest over 20%
A co-operative must inform the Registrar in writing within 14 days after the board becomes aware that— a particular person has a relevant interest in shares of the co-operative the nominal value of which is more than 20% of the nominal value of the issued share capital of the co-operative; or there has been a change in the number of shares in which a person referred to in paragraph (a) holds a relevant interest. The notification must give details of the relevant interest or change concerned. (sec.367-ssec.1) A co-operative must inform the Registrar in writing within 14 days after the board becomes aware that— a particular person has a relevant interest in shares of the co-operative the nominal value of which is more than 20% of the nominal value of the issued share capital of the co-operative; or there has been a change in the number of shares in which a person referred to in paragraph (a) holds a relevant interest. (sec.367-ssec.2) The notification must give details of the relevant interest or change concerned.
- (a) a particular person has a relevant interest in shares of the co-operative the nominal value of which is more than 20% of the nominal value of the issued share capital of the co-operative; or
- (b) there has been a change in the number of shares in which a person referred to in paragraph (a) holds a relevant interest.