4
CurrentDate of divestiture
Part 1Preliminary
4 Date of divestiture
In this Act, the date of divestiture is—
(a)
for Newco—
(i)
if Newco's shares are sold by or at the direction of the Treasurer—the date the sale is completed; or
(ii)
if Newco's shares are offered for public subscription—the date shares are first allotted to subscribers who respond to the public offer;
(b)
for a Newco subsidiary—
(i)
if the subsidiary's shares are sold by or at the direction of the Treasurer before the date of divestiture for Newco—the date the sale is completed; or
(ii)
if not—the date of divestiture for Newco.
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