8Disposal of consideration for shares compulsorily acquired (Co-operatives National Law s 436)

8 Disposal of consideration for shares compulsorily acquired (Co-operatives National Law s 436)

(1)  For the purposes of section 436(3)(b)(i) of the Co-operatives National Law (Tasmania), references in section 1339 of the Corporations Act to crediting an amount to the Companies and Unclaimed Moneys Special Account are to be read as references to dealing with the amount as unclaimed money in accordance with the Unclaimed Moneys Act 1918 .

(2)  For the purposes of section 436(3)(b)(ii) of the Co-operatives National Law (Tasmania), section 1341(1) and (2) of the Corporations Act are taken to be replaced by subsection (3) of this section.

(3)  The amount is to be dealt with in accordance with the Unclaimed Moneys Act 1918 , and accordingly applications for the payment of the amount may be made under that Act to the Secretary of the responsible Department in relation to the Unclaimed Moneys Act 1918 .