Ann: Notice of General Meeting/Proxy Form, page-91

Don't disagree overall, but think 48 hours for ASIC to do anything is probably too hopeful though.

That said, demerger may well go ahead (pending getting another exchange onboard). This is a strategy to get JK's assets out of the country, sure, but let's not forget that he's paying quite a lot in legals. Looking at this strategy, it very well could've been designed by the lawyers, and taken into account getting around ASIC intervention. ASIC don't have carte blanche to do whatever they like. If this demerger is designed properly to avoid ASIC, it may well succeed.