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

12   Subsection 601VBE(3)

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

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

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