Corporations Act 2001

CHAPTER 5D - LICENSED TRUSTEE COMPANIES  

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

Division 2 - Approval to exceed 15 % voting power limit  

SECTION 601VBA   APPLICATION FOR APPROVAL TO EXCEED 15 % VOTING POWER LIMIT  

601VBA(1)    

A person may apply for approval to have voting power of more than 15 % in a particular licensed trustee company or proposed licensed trustee company by lodging with ASIC an application that:

(a)    

specifies the percentage of voting power (if any) the person currently has in the company; and

(b)    

specifies the percentage of voting power the person is seeking approval to have in the company; and

(c)    sets out the person ' s reasons for making the application.

Note: For fees in respect of lodging applications, see Part 9.10 .

601VBA(2)    
ASIC must give the application to the Minister as soon as possible.