Commonwealth Consolidated Acts

POOLED DEVELOPMENT FUNDS ACT 1992 - SECT 18

    A PDF's registration declaration is subject to the following conditions:

  (a)   a condition that the following be complied with by, and in relation to, the PDF:

  (i)   this Act;

  (ii)   any direction given, or requirement made, by the Board under this Act;

  (iii)   any condition to which an approval given, or determination made, by the Board under this Act is subject;

  (b)   a condition that the PDF's constitution:

  (i)   satisfies the PDF constitution requirements; and

  (ii)   be complied with in so far as it prohibits as mentioned in subsection   4(3);

  (c)   a condition that the PDF not reduce its share capital, or buy shares in itself, within 2 years after becoming a PDF or merging with another PDF as mentioned in section   32A.