Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023 (69 of 2023)

Schedule 3   Rationalisation of ending ASIC instruments

Part 1   Voting control limits for proposed licensed trustee companies

Division 1   Amendments

Corporations Act 2001

16   Paragraph 601VBF(1)(a)

Omit all the words after "the Minister is satisfied that", substitute:

: (i) in the case of a licensed trustee company - it would be in the interests of that company and its clients for the approval to be revoked; or

(ii) in the case of a proposed licensed trustee company - it would be in the interests of that company and its clients for the approval to be revoked were that company a licensed trustee company.