Corporations Act 2001

CHAPTER 2G - MEETINGS  

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

Note: Section 1228A applies a modified version of this Part in relation to a CCIV. Section 1228B applies a modified version of this Part in relation to a sub-fund of a CCIV.

Division 6 - Voting at meetings of members  

SECTION 253F  

253F   HOW TO WORK OUT THE VALUE OF AN INTEREST  

The value of an interest in a registered scheme is:

(a)    if it is quoted on a declared financial market - 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 declared financial market 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.