11Limitation on sale of shares

11 Limitation on sale of shares

(1)  [Section 11 Subsection (1) amended by No. 20 of 2025, s. 24, Applied:27 Nov 2025] [Section 11 Subsection (1) amended by No. 20 of 2025, s. 24, Applied:27 Nov 2025] The members of the Corporation may not sell or otherwise dispose of the shares in the Corporation held by them unless a motion approving the sale or disposal is approved by at least two-thirds of the members of each House of Parliament.

(2)  [Section 11 Subsection (2) omitted by No. 20 of 2025, s. 24, Applied:27 Nov 2025] .  .  .  .  .  .  .  .  

(3)  The members of the Corporation must not vote at a meeting of the shareholders of the Corporation to allow the Corporation to –

(a) offer shares in the Corporation for subscription; or

(b) grant options over unissued shares in the Corporation; or

(c) invite persons to subscribe for shares in the Corporation; or

(d) allot or issue shares in the Corporation on a basis other than to existing shareholders pro rata to their existing shareholdings.

(4)  In subsection (3) , a reference to shares includes a reference to shares of a kind specified in section 254A(1) of the Corporations Act.