South Australian Consolidated Acts

CO-OPERATIVES ACT 1997 - SECT 279

279—Co-operative to inform Commission of interest over 20 per cent

        (1)         A co-operative must inform the Commission in writing within 14 days after the board becomes aware that—

            (a)         a particular person has a relevant interest in shares of the co-operative the nominal value of which exceeds 20 per cent of the nominal value of the issued share capital of the co-operative; or

            (b)         there has been a change in the number of shares in which such a person holds a relevant interest.

        (2)         The notification must give details of the relevant interest concerned or of the change concerned.