431
CurrentSchemes and contracts to which this Division applies
Chapter 4Structural and other events for co-operatives
Part 4.4Compromises and arrangements
Division 3Acquisition of shares of dissenting shareholders
431 Schemes and contracts to which this Division applies
(1)
This Division applies to a scheme or contract involving a transfer of shares in a co-operative (the transferor) to a person (the transferee) that has, within 4 months after the making of the offer relating to the scheme or contract by the transferee, been approved by the holders of at least 90% in nominal value of all the shares concerned (other than excluded shares).
(2)
This Division does not apply to a scheme or contract arising out of the making of an offer to which Division 2 of Part 3.5 applies.
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