Corporations Amendment (Asia Region Funds Passport) Act 2018 (61 of 2018)

Schedule 2   Amendments consequential on Chapter 8A

Corporations Act 2001

47   Section 9 (definition of substantial holding)

Repeal the definition, substitute:

substantial holding : a person has a substantial holding in a body corporate, listed registered scheme or listed notified foreign passport fund, if:

(a) the total votes attached to voting shares in the body or voting interests in the scheme or fund, in which they or their associates:

(i) have relevant interests; and

(ii) would have a relevant interest but for subsection 609(6) (market traded options) or 609(7) (conditional agreements);

is 5% or more of the total number of votes attached to voting shares in the body or interests in the scheme or fund; or

(b) the person has made a takeover bid for voting shares in the body or voting interests in the scheme, and the bid period has started and not yet ended.

Note 1: For relevant interest , see section 608.

Note 2: Paragraph (b) does not apply in relation to a notified foreign passport fund.