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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.4 - LIMITS ON INVOLVEMENT WITH LICENSEES    View history reference

Division 1 - Limit on control of certain licensees    View history reference

Subdivision A - 15% voting power limit    View history reference

SECTION 850B  MEANING OF UNACCEPTABLE CONTROL SITUATION  

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850B(1)  ["unacceptable control situation"]  


For the purposes of this Division, an unacceptable control situation exists in relation to a widely held market body and in relation to a particular person if the person's voting power in the body is more than:


(a) 15%; or


(b) in relation to a body other than the Australian Stock Exchange Limited - if an approval of a higher percentage is in force under Subdivision B in relation to the body and in relation to the person, that higher percentage; or


(c) in relation to the Australian Stock Exchange Limited - if the regulations prescribe a higher percentage in relation to the Australian Stock Exchange Limited in relation to the person, that higher percentage.

850B(2)  [Regulations]  


Regulations made for the purposes of paragraph (1)(c) may not take effect earlier than the day after the last day on which the regulations may be disallowed under Part 5 of the Legislative Instruments Act 2003.


 



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