Foreign Acquisitions and Takeovers Act 1975
View history note
Hide history noteA person holds or acquires an interest in a security if he or she has any legal or equitable interest in that security.
Note 1: For other rules relating to interests in securities, see sections 13 to 15 .
Note 2: See also section 19 (tracing of substantial interests in corporations, trusts and unincorporated limited partnerships).
9(2)
Without limiting subsection (1), a person holds or acquires an interest in a security in an entity if:
(a) the person is not the registered holder of the security; and
(b) the person is entitled to exercise or control the exercise of a right attached to the security (other than because he or she was appointed as a proxy or representative).
9(3)
In determining whether a person holds or acquires an interest in a security, it is immaterial that the interest cannot be related to a particular security.
Issued shares in a corporation
9(4)
A person holds or acquires an interest in the issued shares in a corporation if:
(a) all or part of the share capital of the corporation consists of stock; and
(b) the person holds an interest in that stock.
9(5)
For the purposes of this Act, the issued shares are taken to have:
(a) the same nominal amount as the amount of that stock; and
(b) the same rights attached to them as are attached to that stock.
Buying-back securities
9(6)
The buying-back of a security in an entity by the entity does not constitute an acquisition by the entity of an interest in a security in the entity.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
