Limitation on sale of shares
11 Limitation on sale of shares
The members of the Corporation may not sell or otherwise dispose of the shares in the Corporation held by them unless a motion approving the sale or disposal is approved by at least two-thirds of the members of each House of Parliament.
The members of the Corporation must not vote at a meeting of the shareholders of the Corporation to allow the Corporation to – offer shares in the Corporation for subscription; or grant options over unissued shares in the Corporation; or invite persons to subscribe for shares in the Corporation; or allot or issue shares in the Corporation on a basis other than to existing shareholders pro rata to their existing shareholdings.
In subsection (3), a reference to shares includes a reference to shares of a kind specified in section 254A(1) of the Corporations Act.
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