36
In forceShareholders to comply with directions about shareholdings in PDFs
Part 4Regulation of PDFs
Division 3Board’s powers to give directions
36 Shareholders to comply with directions about shareholdings in PDFs
(1)
If the Board is satisfied that a person holds shares in a PDF in contravention of section 31, the Board may, by notice in writing to the person, direct the person to dispose of a specified number of those shares.
(2)
A direction must specify a reasonable period within which it must be complied with.
(3)
A person must, within the specified period, comply with a direction given to the person.
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