18Conditions of registration declaration

18 Conditions of registration declaration

A PDF’s registration declaration is subject to the following conditions: (a) a condition that the following be complied with by, and in relation to, the PDF: (i) this Act; (ii) any direction given, or requirement made, by the Board under this Act; (iii) any condition to which an approval given, or determination made, by the Board under this Act is subject; (b) a condition that the PDF’s constitution: (i) satisfies the PDF constitution requirements; and (ii) be complied with in so far as it prohibits as mentioned in subsection 4(3); (c) a condition that the PDF not reduce its share capital, or buy shares in itself, within 2 years after becoming a PDF or merging with another PDF as mentioned in section 32A.