South Australian Consolidated Acts South Australian Consolidated Acts349—Schemes and contracts to which Division applies
(1) This Division
applies to a scheme or contract involving a transfer of
shares in a co-operative ("the transferor") to a person ("the transferee )
that has, within 4 months after the making of the offer relating to the scheme
or contract by the transferee, been approved by the holders of at least 90 per
cent in nominal value of all the shares concerned (other than excluded
shares).
(2) This Division does
not apply to a scheme or contract arising out of the making of an offer to
which Division 2 of Part 11 applies.