New Zealand Legislation: Acts

9 Undertaking to dispose of shares in New Zealand Dairy Foods Limited

• (1) New co-op must unconditionally dispose of all its shares in New Zealand Dairy Foods Limited within 12 months after the date of commencement of this subpart.

  (2) The disposal required by subsection (1) must have the effect of passing control of the assets of New Zealand Dairy Foods Limited described in subsection (3) and must not be to an associated person of new co-op.

  (3) The assets referred to in subsection (2) are all the assets of New Zealand Dairy Foods Limited as at 1 June 2001, and the assets acquired by that company between 1 June 2001 and the date of an unconditional disposal under subsection (1), excluding assets sold by that company in the ordinary course of its business.