Pooled Development Funds Act 1992

PART 4 - REGULATION OF PDFs  

Division 2 - Other provisions regulating the capital structure and activities of PDFs  

SECTION 32A   PDFs MAY MERGE  

32A(1)   [Acquisitions that are part of merger process]  

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.

32A(2)   [Consideration]  

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.

32A(3)   [Prior written notice]  

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