s 354
In forceSchemes and contracts to which Division applies
Part 13Arrangements and reconstructions
Division 4Acquisition of shares of dissenting shareholders
354 Schemes and contracts to which 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 (other than excluded shares) to which the offer relates.
(2)
This Division does not apply to a scheme or contract arising out of the making of an offer to which Part 11 Division 2 applies.
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