NSWIn ForceAct
Duties Act 1997
129Entitlement to voting shares arising from capital reduction or rights alteration
Start here
Get a plain-English read of 129
Turn the raw legal text into a practical explanation grounded in Duties Act 1997.
#### 129 Entitlement to voting shares arising from capital reduction or rights alteration
129 Entitlement to voting shares arising from capital reduction or rights alteration
> > (1) If—
> >
> > > (a) a person becomes entitled to at least 50% of the voting shares of a company by means of capital reduction or rights alteration, or both, or
> >
> > > (b) a person who is entitled to at least 50% of the voting shares of a company becomes entitled to at least 10% more of the voting shares over a period of not more than 12 months by means of capital reduction or rights alteration, or both,
> >
> > the person must lodge a statement with the Chief Commissioner in respect of the entitlement.
>
> > (2) The statement must be lodged within 3 months after the entitlement arises.