Pooled Development Funds Act 1992

PART 4 - REGULATION OF PDFs  

Division 3 - Board's powers to give directions  

SECTION 36   SHAREHOLDERS TO COMPLY WITH DIRECTIONS ABOUT SHAREHOLDINGS IN PDFs  

36(1)   [Direction to dispose of excess shares]  

If the Board is satisfied that a person holds shares in a PDF in contravention of section 31 , the Board may, by notice in writing to the person, direct the person to dispose of a specified number of those shares.

36(2)   [Reasonable period for compliance]  

A direction must specify a reasonable period within which it must be complied with.

36(3)   [Compliance by shareholder]  

A person must, within the specified period, comply with a direction given to the person.