22Incorrectly issued shares

22 Incorrectly issued shares

If, within 6 months after the conversion time, HoldCo determines, in accordance with its constitution, that any of the shares issued under section 21 should not have been issued, then those shares are taken never to have been issued.

Note: This section could apply, for example, where too many shares were issued to a person under section 21 because of incorrect information about the amount of wool tax paid by the person. In this case, the shares in excess of the proper entitlement would be taken never to have been issued to the person.