Unit conversion rights let unitholders convert former income units into Growing Income units with repurchase and pricing rules. Establishes the Growing Income Unit Scheme (Cumulative and Non Cumulative), effective 1 January 1990 for 66 months, permitting conversion by Income Unit Scheme, 1985 unitholders on an acceptance date, with repurchase of old certificates and issuance of new certificates in multiples of ten. Repurchases commence on or after 1 January 1993 on specified working days upon surrender of full certificates; repurchase price is normally determined monthly by valuing scheme assets less liabilities divided by units in issue, netting realisation costs, subject to adjustments and discretionary departures by the Trust. The Scheme terminates on 1 July 1995 with final repurchase and distribution.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Unit conversion rights let unitholders convert former income units into Growing Income units with repurchase and pricing rules.
Establishes the Growing Income Unit Scheme (Cumulative and Non Cumulative), effective 1 January 1990 for 66 months, permitting conversion by Income Unit Scheme, 1985 unitholders on an acceptance date, with repurchase of old certificates and issuance of new certificates in multiples of ten. Repurchases commence on or after 1 January 1993 on specified working days upon surrender of full certificates; repurchase price is normally determined monthly by valuing scheme assets less liabilities divided by units in issue, netting realisation costs, subject to adjustments and discretionary departures by the Trust. The Scheme terminates on 1 July 1995 with final repurchase and distribution.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
