Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.4 - LIMITS ON INVOLVEMENT WITH LICENSEES  

Division 1A - Limit on control of certain Australian licensees that are not widely held market bodies  

Subdivision A - Scope and interpretation  

SECTION 852DC  

852DC   MEANING OF PASSES THE LEGITIMATE CONTROL TEST  

A person passes the legitimate control test for having a particular percentage of voting power in a controlled Australian financial body unless it is reasonable to expect that the person ' s having of that percentage of voting power in the body would adversely affect:

(a)    if the body is a licensee mentioned in any of subparagraphs 852DA(2)(b)(i) to (iv) - the body ' s ability to meet one or more of its obligations as such a licensee under this Act; or

(b)    if the body is the holding company of a licensee mentioned in any of subparagraphs 852DA(2)(b)(i) to (iv) - the licensee ' s ability to meet one or more of its obligations as such a licensee under this Act.