Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.4
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LIMITS ON INVOLVEMENT WITH LICENSEES
Division 1
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Limit on control of certain licensees
Subdivision B
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Approval to exceed 20% voting power limit
SECTION 851A
APPLICATION FOR APPROVAL TO EXCEED 20% VOTING POWER LIMIT
851A(1)
A person may apply for approval to have voting power of more than 20% in a particular widely held market body (other than the ASX Limited) by lodging with ASIC an application that: (a) specifies the percentage of voting power (if any) the person currently has in the widely held market body; and (b) specifies the percentage of voting power the person is seeking approval to have in the body; and (c) sets out the person ' s reasons for making the application.
851A(2)
ASIC must give the application to the Minister as soon as possible.
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteA person may apply for approval to have voting power of more than 20% in a particular widely held market body (other than the ASX Limited) by lodging with ASIC an application that: (a) specifies the percentage of voting power (if any) the person currently has in the widely held market body; and (b) specifies the percentage of voting power the person is seeking approval to have in the body; and (c) sets out the person ' s reasons for making the application.
Note: For fees in respect of lodging applications, see Part 9.10 .
851A(2)
ASIC must give the application to the Minister as soon as possible.