Corporations Amendment (Asia Region Funds Passport) Act 2018 (61 of 2018)

Schedule 2   Amendments consequential on Chapter 8A

Corporations Act 2001

170   Subsection 671B(2)

Repeal the subsection, substitute:

(2) For the purposes of this section, there is a movement of at least 1% in a person's holding if the percentage worked out using the following formula increases or decreases by 1 or more percentage points from the percentage they last disclosed under this Part in relation to the company, scheme or fund:

Formula to determine if a person's holding has had a movement of at least 1%
          

where:

person's and associates' votes is the total number of votes attached to all the voting shares in the company, interests in the scheme or interests in the fund (if any) that the person or an associate has a relevant interest in.

total votes in company, scheme or fund is the total number of votes attached to all voting shares in the company, interests in the scheme or interests in the fund.

Note: Subsection (7) expands the normal concept of relevant interest to take account of market traded options and conditional agreements.