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

SECTION 851A  APPLICATION FOR APPROVAL TO EXCEED 15% VOTING POWER LIMIT  

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851A(1)  [Approval to exceed voting power limit]  


A person may apply for approval to have voting power of more than 15% in a particular widely held market body (other than the Australian Stock Exchange Limited) by lodging with ASIC an application that:


(a) specifies the percentage of voting power (if any) the person currently has in the widely held market body; and


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


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

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

851A(2)  [Application given to Minister]  


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


 



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