QBL EGM - Expression of interest., page-39

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Captain Blood

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118

15/06/18

23:05

Post #: 33750010
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Originally posted by Cow Ski ↑

"member":
(a) in relation to a managed investment scheme Â¾ means a person who holds an interest in the scheme; or

(e) in relation to a company--a person who is a member under section 231.
s 231

Membership of a company
A person is a member of a company if they:

(a) are a member of the company on its registration; or

(b) agree to become a member of the company after its registration and their name is entered on the register of members; or

(c) become a member of the company under section 167 (membership arising from conversion of a company from one limited by guarantee to one limited by shares).

s 167

Issue of shares by company or holding company--company limited by guarantee changing to company limited by shares
(1) If:

(a) a company limited by guarantee changes type under this Part to a company limited by shares; and

(b) that company, or another company that beneficially owns all the shares in that company, issues shares to a person who was a member of that company immediately before the change of type took effect;

the person becomes a member of the company issuing the shares if:

(c) the issue of the shares is in accordance with the special resolution that accompanied the application to change type under subparagraph 163(2)(a)(ii); and

(d) the shares are fully paid up; and

(e) the business, assets and liabilities of the issuing company (together with its subsidiaries) when the shares are issued are substantially the same as the business, assets and liabilities of the company changing type (together with its subsidiaries) immediately before the change of type took effect.

(2) If shares are issued according to this section, a court is not to make an order reversing the issue of the shares.

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Wrong legal section, pal. Try securities legislation.
Or better yet, assume the wiser guy is right and expend ur time on the real issue of whether this situation is reasonable and whether you would like to reister a protest via eGM.

@Neil1959 this looking a lot like LWP threads and content pre-battery tech... history is ur best guide. (This guy reminds me of Heman...lol)

Last edited by Captain Blood: 15/06/18

QBL Price at posting: 4.9¢ Sentiment: None Disclosure: Not Held
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QBL EGM - Expression of interest., page-39

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