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 1 - Limit on control of certain licensees  

Subdivision B - Approval to exceed 20% voting power limit  

SECTION 851A   APPLICATION FOR APPROVAL TO EXCEED 20% VOTING POWER LIMIT  

851A(1)    

A person may apply for approval to have voting power of more than 20% in a particular widely held market body (other than the ASX 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)    
ASIC must give the application to the Minister as soon as possible.