Corporations Act 2001

CHAPTER 5D - LICENSED TRUSTEE COMPANIES  

PART 5D.5 - LIMIT ON CONTROL OF LICENSED TRUSTEE COMPANIES AND PROPOSED LICENSED TRUSTEE COMPANIES  

Division 1 - 15 % voting power limit  

SECTION 601VAA  

601VAA   MEANING OF UNACCEPTABLE CONTROL SITUATION - LICENSED TRUSTEE COMPANY OR A PROPOSED LICENSED TRUSTEE COMPANY  

An unacceptable control situation exists in relation to:

(a)    a licensed trustee company and in relation to a particular person; or

(b)    a proposed licensed trustee company and in relation to a particular person;

if the person ' s voting power in the company is more than:

(c)    15%; or

(d    if an approval of a higher percentage is in force under Division 2 in relation to the company and in relation to the person - that higher percentage.