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CORPORATIONS ACT 2001

CHAPTER 5D - LICENSED TRUSTEE COMPANIES    View history reference

PART 5D.5 - LIMIT ON CONTROL OF LICENSED TRUSTEE COMPANIES    View history reference

Division 1 - 15% voting power limit    View history reference

SECTION 601VAA  

601VAA  MEANING OF UNACCEPTABLE CONTROL SITUATION  

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For the purposes of this Part, an unacceptable control situation exists in relation to a licensed trustee company and in relation to a particular person if the person's voting power in the trustee company is more than:


(a) 15%; or


(b) if an approval of a higher percentage is in force under Division 2 in relation to the trustee company and in relation to the person - that higher percentage.


 



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