Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

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Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

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History

Ch 7 amended by No 8 of 2022, s 3, Sch 2[165] (effective 1 July 2022).

Ch 7 inserted by No 122 of 2001, s 3, Sch 1, Pt 1 [ 1].

As Act No 122 of 2001 repealed Ch 7 and 8 the history notes for Ch 7 use " inserted " and references to the former provisions have been removed.

PART 7.4 - LIMITS ON INVOLVEMENT WITH LICENSEES  

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Division 1 - Limit on control of certain licensees  

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Subdivision A - 15% voting power limit  

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SECTION 850B   MEANING OF UNACCEPTABLE CONTROL SITUATION  

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850B(1)    

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An unacceptable control situation exists in relation to a widely held market body and in relation to a particular person if the person ' s voting power in the body is more than:

(a)    15%; or

(b)    in relation to a body other than the Australian Stock Exchange Limited - if an approval of a higher percentage is in force under Subdivision B in relation to the body and in relation to the person, that higher percentage; or

(c)    in relation to the Australian Stock Exchange Limited - if the regulations prescribe a higher percentage in relation to the Australian Stock Exchange Limited in relation to the person, that higher percentage.

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History

S 850B(1) amended by No 76 of 2023, s 3, Sch 2[374] (effective 20 October 2023).

S 850B(1) inserted by No 122 of 2001, s 3, Sch 1, Pt 1 [ 1].

850B(2)    

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Regulations made for the purposes of paragraph (1)(c) may not take effect before the first day those regulations are no longer liable to be disallowed, or to be taken to have been disallowed, under section 42 of the Legislation Act 2003 .

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History

S 850B(2) amended by No 141 of 2020, s 3, Sch 4[46] (effective 18 December 2020).

S 850B(2) amended by No 154 of 2007, s 3, Sch 4 [ 22].

S 850B(2) inserted by No 122 of 2001, s 3, Sch 1, Pt 1 [ 1].

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