Pooled Development Funds Act 1992

PART 3 - BECOMING A PDF  

SECTION 18  

18   CONDITIONS OF REGISTRATION DECLARATION  
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 .