125Transitional provisions—Road Legislation Further Amendment Act 2007

125 Transitional provisions—Road Legislation Further Amendment Act 2007 (1) The amendments to a section of this Act made by Part 5 of the **Road Legislation Further Amendment Act 2007** only apply to offences alleged to have been committed on or after the commencement of that Part. (2) For the purposes of subsection (1), if an offence is alleged to have been committed between 2 dates, one before and one after the commencement of a provision in Part 5 of the **Road Legislation Further Amendment Act 2007**, the offence is alleged to have been committed before the commencement of that provision. (3) Part 4 of this Act, as in force immediately before the commencement of Part 5 of the **Road Legislation Further Amendment Act 2007**, continues to apply to offences committed before that commencement. Schedules Sch. 1 repealed by No. 81/2000 s. 37(1). Sch. 2 amended by No. 21/1996 s. 8, substituted by No. 13/2002 s. 15(Sch. Pt 1). Schedule 2—Unit Trust Unit Holding Restriction 1.1 Definitions (a) In this Schedule, unless the contrary intention appears: (1) ***Acquire*** has the meaning ascribed to it by Divisions 1 and 7 of Part 1.2 of Chapter 1 of the Corporations Law in its form as at 20 October 1995; (2) ***Associate*** has the meaning ascribed to it by Division 2 of Part 1.2 of Chapter 1 of the Corporations Law in its form as at 20 October 1995; (3) ***Entitled*** has the meaning ascribed to it by section 609 of the Corporations Law in the form as at 20 October 1995; (4) ***Relevant interest*** has the meaning ascribed to it by Divisions 1 and 5 of Part 1.2 of Chapter 1 of the Corporations Law in its form as at 20 October 1995, in each case as if the relevant provisions of the Corporations Law also applied to units in a unit trust; (b) Despite anything in clause 1.1 of the Deed, ***Substantial Holder*** has the meaning ascribed to it in the Concession Deed between the State of Victoria, Transurban City Link Limited, Perpetual Trustee Company Limited and City Link Management Limited with effect from 20 October 1995 as amended up to and including the 15th Amending Deed. 1.2 Restrictions on Acquisition of Units Except as provided by this Schedule, a person must not acquire, and is not eligible to acquire, Units in the Trust if: (a) any person who does not have a relevant interest in any Units or who has a relevant interest in less than 20% of the Units on Issue would immediately after the acquisition, have a relevant interest in 20% or more of the Units on Issue; (b) any person who has a relevant interest in 20% or more of the Units on Issue would immediately after the acquisition, have a relevant interest in a greater percentage of Units on Issue than immediately before the acquisition; or (c) any person who is entitled to less than 20% of the voting shares in Transurban City Link Limited or less than 20% of the units on issue in the Transurban City Link Unit Trust would, immediately after the acquisition, be entitled to 20% or more of the voting shares in Transurban City Link Limited or 20% or more of the units on issue in the Transurban City Link Unit Trust. 1.3 Exceptions The restrictions contained in clause 1 do not apply to or in relation to an acquisition of Units to which the State has given its written consent. 1.4 Registration and Divestiture (a) No Unit may be issued or, in the case of a paper-based transfer, transferred if the issue or transfer would or might result in or have the effect of causing a contravention of clause 1.2. (b) Where a person has acquired Units in the Trust in such circumstances as might or would result in or have the effect of causing a contravention of clause 1.2 or where the Trustee is aware of a contravention of clause 1.2 or that a person has become or remains a holder of a relevant interest in 20% or more of the Units on Issue or has become or remains a Substantial Holder without the State's prior written consent (***unauthorised holding***), the Trustee must, by notice in writing to the State advise the State of that fact within 7 days of becoming so aware. If the Trustee chooses to apply, on behalf of the person having the unauthorised holding, to the State for the State's consent to the person becoming and/or remaining a holder of a relevant interest in 20% or more of the Units on Issue or a Substantial Holder it must do so in the same 7 day period. If the State requires the Trustee to do so (irrespective of whether consent has been sought from the State), the Trustee must, as soon as practicable but no later than 7 days after advice from the State, by notice in writing to the person having an unauthorised holding, require that person to dispose of the Units held by it or any part thereof as soon as practicable but no later than 1 month after the end 7 days after receipt of the advice from the State or such longer period agreed between the Trustee and the State, in order to cease such contravention or unauthorised holding, provided that in the absence of any such requirement by the Trustee, the person concerned is not entitled in any way to set aside or cancel the transaction whereby the person acquired the Units, not to claim any refund or to otherwise recover any money paid in respect thereof. In so acting, the Trustee must consult with the directors of the Companies and, while the Units are quoted on the Official List, the Trustee must consult with the ASX, and shall have regard to, without being bound by, the recommendations of those persons. (c) If the requirements of any notice to dispose of the Units are not complied with by the person to whom the notice is addressed within the time specified in the notice, the Trustee must cause the Units to be sold on the ASX (or, if they are not Officially Quoted, in such manner as the Trustee may determine) as soon as practicable but no later than 3 months after the end of the 1 month period referred to in paragraph (b) above or such longer period agreed between the Trustee and the State. (d) If the Units sold in accordance with clause 1.4(c) are registered on a branch register, the Trustee may cause such Units to be transmitted to the Register. (e) The Trustee may: (1) appoint a person to execute as transferor a transfer in respect of any Units sold in accordance with the provisions of clause 1.4(c) and to receive and give a good discharge of the purchase money; and (2) register the transfer notwithstanding that proof of title of such Units may not have been delivered to the Trustee. (f) The purchase money less the expenses of any sale made in accordance with the provisions of clause 1.4(c) must be paid to the Unit holder whose Units were sold provided such Unit holder has delivered to the Trustee such proof of title of the Units as the Trustee accepts. (g) Nothing in clause 1.4 renders the Trustee liable or responsible by reason of any person acquiring Units in the Trust in contravention of clause 1.2 or failing to comply with the obligations imposed by clause 1.2. (h) The Trustee, before or at any time after issuing any Units or, in the case of a paper-based transfer, rejecting any transfer of Units or at any other time and from time to time, may, by notice in writing to the applicant or issuee or Unit Holder, require such person (or, where such person is a corporation, a competent officer thereof) to furnish to the Trustee such information or evidence (on oath or otherwise verified by law, if the Trustee should so require) as the Trustee may consider likely to be of assistance in determining whether or not such person is eligible to become or to remain a Unit Holder. 1.5 Employees and agents In this Schedule, a person is, unless the contrary is proved, presumed to have been aware at a particular time of a fact or occurrence of which an employee or agent of the person having duties or acting on behalf of the employer or principal in connection with a matter to which the fact or occurrence relates was aware at the time. Sch. 3 repealed by No. 81/2000 s. 37(2). Sch. 4 inserted by No. 39/1997 s. 20, amended by Nos 50/1998 s. 39, 102/1998 s. 33, repealed by No. 81/2000 s. 37(3). Sch. 5 inserted by No. 50/1998 s. 40, repealed by No. 81/2000 s. 37(4). Sch. 6 inserted by No. 50/1998 s. 40, repealed by No. 81/2000 s. 37(5). Sch. 7 inserted by No. 50/1998 s. 40, repealed by No. 81/2000 s. 37(6). Sch. 8 inserted by No. 78/2001 s. 10.