Common use of Transfer of Scheme Shares Clause in Contracts

Transfer of Scheme Shares. (a) Subject to this Scheme becoming Effective in accordance with clause 4.1, the following actions will occur (in the order set out below) on the Implementation Date: (i) on or before 3.00pm on the Implementation Date, and in consideration for the transfer of the Scheme Shares to APL as RE of APT under this Scheme, APA must (subject to clause 4.2(b) and clause 5.8(a)) provide the Scheme Consideration to each Scheme Shareholder for each Scheme Share that is held by the Scheme Shareholders as at the Record Date in accordance with clause 5.8, (ii) subject to APA fulfilling its obligations under clauses 4.2(a)(i) and 5.8 (subject to clause 4.2(b)), all of the Scheme Shares, together with all rights and entitlements attaching to the Scheme Shares at the Implementation Date, must be transferred to APL as RE of APT without the need for any further act by any Scheme Shareholder (other than acts performed by Envestra or any of its directors or officers as attorney and agent for Scheme Shareholders under clause 7.6), by Envestra effecting a valid transfer or transfers of the Scheme Shares to APL as RE of APT under section 1074D of the Corporations Act or, if that procedure is not available for any reason by: (A) Envestra delivering to APL as RE of APT a duly completed and executed Scheme Transfer; and (B) APL as RE of APT duly executing and delivering the Scheme Transfer to Envestra for registration; and (iii) immediately after receipt of the duly executed Scheme Transfer from APL as RE of APT under clause 4.2(a)(ii)(B), Envestra must enter, or must procure the entry of, the name and address of APL as RE of APT in the Envestra Register as the holder of the Scheme Shares. (b) Notwithstanding any other provision of this Scheme (including clause 5.8), while: