TASIn ForceAct
Irrigation Company Act 2011
10Shares
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10 Shares
(1) Shares in the Company held by the members are held in trust for the Crown.
(2) A member of the Company who holds shares in trust for the Crown is not to acquire shares in the Company for his or her own benefit.
(3) Any shares acquired in the Company in contravention of subsection (1) are taken to be held in trust for the Crown but the Crown is not liable to meet the cost of that acquisition.