217
CurrentParticular material interests in existing pharmacy businesses held by particular corporations
Part 14Repeal and transitional provisions for Act No. 9 of 2024
Division 2Interests in, and operation of, existing pharmacy businesses
217 Particular material interests in existing pharmacy businesses held by particular corporations
(1)
This section applies to a corporation that holds a material interest in an existing pharmacy business owned by a deemed eligible person under section 216 as—
(a)
a shareholder of the deemed eligible person; or
(b)
a beneficiary of a trust of which the deemed eligible person is trustee.
(2)
The corporation, and its shareholders, do not commit an offence against section 16 in relation to holding the material interest.
(3)
Subsection (2) applies only while the deemed eligible person is carrying on the existing pharmacy business under section 216.
This Act’s bill:Explanatory memorandumSecond reading speech
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