Co-operatives National Law (Queensland)
sec.431Schemes and contracts to which this Division applies
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sec.431 Schemes and contracts to which this Division applies
This Division applies to a scheme or contract involving a transfer of shares in a co-operative (the transferor) to a person (the transferee) that has, within 4 months after the making of the offer relating to the scheme or contract by the transferee, been approved by the holders of at least 90% in nominal value of all the shares concerned (other than excluded shares). This Division does not apply to a scheme or contract arising out of the making of an offer to which Division 2 of Part 3.5 applies. (sec.431-ssec.1) This Division applies to a scheme or contract involving a transfer of shares in a co-operative (the transferor) to a person (the transferee) that has, within 4 months after the making of the offer relating to the scheme or contract by the transferee, been approved by the holders of at least 90% in nominal value of all the shares concerned (other than excluded shares). (sec.431-ssec.2) This Division does not apply to a scheme or contract arising out of the making of an offer to which Division 2 of Part 3.5 applies.