Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 (76 of 2023)

Schedule 5   Rationalisation of ending ASIC instruments

Part 1   Acquisitions of relevant interests in voting shares

Corporations Act 2001

11   After subsection 610(3)

Insert:

(3A) However, subsection (3) does not apply in relation to a subsidiary acquiring an interest in securities from its holding company with the result that the subsidiary acquires a relevant interest in particular voting shares unless:

(a) the acquisition results in an increase of another person's voting power in a designated body; and

(b) that other person is not a subsidiary of the ultimate holding company.