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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia
Western Australian Meat
Marketing Co-operative Limited
(Shares) Bill 2002
CONTENTS
1. Short title 1
2. Commencement 2
3. Definitions 2
4. Allotment and issue of shares to Minister 2
5. Transfer of shares to trustees 3
6. Stamp duty 3
7. Extinguishment of right of action against WAMMCO 3
page i
128--1
Western Australia
LEGISLATIVE COUNCIL
Western Australian Meat
Marketing Co-operative Limited
(Shares) Bill 2002
A Bill for
An Act to provide for --
• the allotment and issue of shares in Western Australian Meat
Marketing Co-operative Limited to the Minister;
• the transfer of those shares to certain trustees,
and for related purposes.
The Parliament of Western Australia enacts as follows:
1. Short title
This Act may be cited as the Western Australian Meat
Marketing Co-operative Limited (Shares) Act 2002.
page 1
Western Australian Meat Marketing Co-operative Limited (Shares) Bill 2002
s. 2
2. Commencement
This Act comes into operation on the day on which it receives
the Royal Assent.
3. Definitions
5 In this Act --
"former Act" means the Marketing of Meat Act 1971 as in
force immediately before 31 December 1999;
"notice" means the notice given to WAMMCO under
section 4E(3) of the former Act;
10 "trust deed" means the trust deed referred to in
section 3(1)(a)(ii) of the Marketing of Meat Amendment
Act 1999;
"trustees" means the trustees appointed for the purposes of the
trust deed;
15 "WAMMCO" means the company registered under Part VI of
the Companies (Co-operative) Act 1943 by the name
"Western Australian Meat Marketing Co-operative
Limited".
4. Allotment and issue of shares to Minister
20 (1) It is sufficient compliance with the obligation that was placed
on WAMMCO under section 4F of the former Act if
WAMMCO allots and issues to the Minister on behalf of the
State in accordance with this Act fully paid shares in
WAMMCO that have a total par value equal to the net value
25 specified in the notice.
(2) The shares are to have the nominal value specified in the notice.
(3) The allotment and issue of shares is to be made as soon as is
practicable after the commencement of this Act.
page 2
Western Australian Meat Marketing Co-operative Limited (Shares) Bill 2002
s. 5
5. Transfer of shares to trustees
As soon as is practicable after the allotment and issue of shares
under section 4 the Minister on behalf of the State is to transfer
those shares to the trustees.
5 6. Stamp duty
(1) Stamp duty under the Stamp Act 1921 is not chargeable on --
(a) the transfer of shares under section 5; or
(b) the initial transfer of shares by the trustees in accordance
with the trust deed.
10 (2) The Minister may certify in writing that a specified transfer of
shares occurred under section 5 and such a certificate is
conclusive evidence of that fact unless the contrary is shown.
7. Extinguishment of right of action against WAMMCO
Any right of action against WAMMCO in respect of any failure
15 by it, before the commencement of this Act, to comply with
section 4F of the former Act is extinguished.
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