This is the judges comments regarding the transfer of shares made by the group of 28 holders to ASI. Looks like any similar transfer made will be fine.
234 As to the suggestion that ASI has engaged in some sort of improper scheme by having units transferred to it by a deed of gift, I do not accept that submission. I see nothing improper in a unit holder transferring its units as alleged. The project imposes liability on persons who are unit holders on a certain date. On the basis of the submissions before me, I find there is no impropriety per se involved in a person taking steps to ensure that he, she or it is not a unit holder on the instalment date. It appears that a great many unit holders disposed of their units in October and November of 2008. It may have been the case that they did so to avoid the payment of the instalments. In any event, it is not necessary for me to make any findings about those matters.
BCS Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
