Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024 (87 of 2024)

Schedule 2   Financial market infrastructure: new and enhanced regulatory powers

Part 3   Declared financial markets and widely held market bodies

Division 3   Widely held market bodies

Corporations Act 2001

33   Subsection 851I(1)

Repeal the subsection (not including the note), substitute:

(1) If, at the time at which a body corporate becomes a widely held market body:

(a) a person holds a particular percentage of voting power in the body; and

(b) the holding of that particular percentage by the person would (apart from this section) constitute an unacceptable control situation in relation to the body and in relation to the person;

the person is taken to be granted at that time an approval under section 851B to hold that percentage of voting power in the body.