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Government Business Enterprises (Sale) Act 2003
16Shares
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16 Shares
(1) The consideration for shares in a company that are issued to the Treasurer is the sum of $1 for each share issued.
(2) Shares in a company issued to the Treasurer are held in trust for the Crown.
(3) The Treasurer must not acquire shares in a company for his or her own benefit.
(4) Any share acquired by the Treasurer in contravention of subsection (3) is taken to be held in trust for the Crown but the Crown is not liable to meet the cost of that acquisition.