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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 2 - Approval to exceed 15% voting power limit    View history reference

SECTION 601VBA  APPLICATION FOR APPROVAL TO EXCEED 15% VOTING POWER LIMIT  

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601VBA(1)  [Application to ASIC]  


A person may apply for approval to have voting power of more than 15% in a particular licensed trustee company by lodging with ASIC an application that:


(a) specifies the percentage of voting power (if any) the person currently has in the trustee company; and


(b) specifies the percentage of voting power the person is seeking approval to have in the trustee company; and


(c) sets out the person's reasons for making the application.

Note: For fees in respect of lodging applications, see Part 9.10.

601VBA(2)  [Minister to be given application]  


ASIC must give the application to the Minister as soon as possible.


 



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