THE CORPORATIONS LAW

CHAPTER 6C - INFORMATION ABOUT OWNERSHIP OF LISTED COMPANIES AND MANAGED INVESTMENT SCHEMES

PART 6C.2 - TRACING BENEFICIAL OWNERSHIP OF SHARES

SECTION 672B   DISCLOSURE BY MEMBER OF RELEVANT INTERESTS AND INSTRUCTIONS  

672B(1)  [Contents of disclosure]  

A person given a direction under section 672A must disclose to the person giving the direction:

(a)  full details of their own relevant interest in the shares or interests in the scheme and of the circumstances that give rise to that interest; and

(b)  the name and address of each other person who has a relevant interest in any of the shares or interests together with full details of:

(i) the nature and extent of the interest; and
(ii) the circumstances that give rise to the other person's interest; and

(c)  the name and address of each person who has given the person instructions about:

(i) the acquisition or disposal of the shares or interests; or
(ii) the exercise of any voting or other rights attached to the shares or interests; or
(iii) any other matter relating to the shares or interests;

together with full details of those instructions (including the date or dates on which they were given).

A matter referred to in paragraph (b) or (c) need only be disclosed to the extent to which it is known to the person required to make the disclosure.

672B(2)  [Time limit for disclosure]  

The disclosure must be made within 2 business days after:

(a)  the person is given the direction; or

(b)  if the person applies for an exemption under section 673 from the obligation to make the disclosure and ASIC refuses to grant the exemption - ASIC notifies the person of its decision on the application; or

(c)  if the direction is given by a company or responsible entity - the company or responsible entity pays any fee payable under the regulations made for the purposes of section 672D.

672B(3)  [Vexatious direction]  

The person does not have to comply with a direction given by the company or the responsible entity if the person proves that the giving of the direction is vexatious.




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