TASIn ForceAct
Racing (Tasracing Pty Ltd) Act 2009
9Shares
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9 Shares
(1) Shares in the Company issued to the members of the Company are held by the members of the Company in trust for the Crown.
(2) A member of the Company who holds shares in the Company in trust for the Crown must not acquire shares in the Company for his or her own benefit.
(3) Any shares acquired in the Company in contravention of subsection (2) are taken to be held in trust for the Crown but the Crown is not liable to meet the cost of that acquisition.