THE CORPORATIONS LAW

CHAPTER 2G - MEETINGS

PART 2G.4 - MEETINGS OF MEMBERS OF REGISTERED MANAGED INVESTMENT SCHEMES

Division 6 - Voting at meetings of members

SECTION 253F   HOW TO WORK OUT THE VALUE OF AN INTEREST  

253F    The value of an interest in a registered scheme is:

(a)  if it is quoted on a stock market of a stock exchange - the last sale price on that market on the trading day immediately before the day on which the poll is taken; or

(b)  if it is not quoted on a stock market of a stock exchange and the scheme is liquid and has a withdrawal provision in its constitution - the amount that would be paid for the interest under that provision on the business day immediately before the day on which the poll is taken; or

(c)  in any other case - the amount that the responsible entity determines in writing to be the price that a willing but not anxious buyer would pay for the interest if it was sold on the business day immediately before the day on which the poll is taken.