Commonwealth Consolidated Acts

POOLED DEVELOPMENT FUNDS ACT 1992 - SECT 32A

  (1)   A PDF (the investor PDF ) may acquire shares in another PDF (the investee PDF ) if, and only if, the acquisition is part of a process of the 2 PDFs merging into one PDF.

  (2)   Any consideration given to the shareholders in the investee PDF for the acquisition must be in the form of:

  (a)   shares in the investor PDF; or

  (b)   a genuine dividend payable from any undistributed profits of the investee PDF;

or both.

  (3)   The investor PDF must give the Board written notice before making an acquisition allowed by this section.