Same-Sex Relationships (Equal Treatment in Commonwealth Laws - General Law Reform) Act 2008 (144 of 2008)

Schedule 12   Innovation, Industry, Science and Research

Pooled Development Funds Act 1992

8   Transitional

(1) This item applies if:

(a) on the commencement of the amendments made by this Schedule, a person holds shares in a PDF (the initial shares ); and

(b) the person would, but for this item, contravene section 31 of the Pooled Development Funds Act 1992 only because of one or more of those amendments.

(2) Subject to subitem (4), disregard the person's continued holding of the initial shares in the PDF on and after that commencement when applying that section as then in force to the person and the person's associates.

(3) If, after that commencement, any bonus shares in the PDF are issued to the person because the person is the holder of the initial shares, then, subject to subitem (4), disregard the person's holding of those bonus shares when applying that section as then in force to the person and the person's associates.

(4) If, after that commencement, the person, or any of the person's associates, acquires additional shares (other than bonus shares) in the PDF, the initial shares and the bonus shares are to be taken into account in determining whether the acquisition of those additional shares complies with that section as then in force.