Corporations Act 2001
CHAPTER 5D
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LICENSED TRUSTEE COMPANIES
PART 5D.5
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LIMIT ON CONTROL OF LICENSED TRUSTEE COMPANIES
Division 1
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15
%
voting power limit
SECTION 601VAA
601VAA
MEANING OF
UNACCEPTABLE CONTROL SITUATION
For the purposes of this Part, an unacceptable control situation exists in relation to a licensed trustee company and in relation to a particular person if the person's voting power in the trustee company is more than:
(a) 15 % ; or
(b) if an approval of a higher percentage is in force under Division 2 in relation to the trustee company and in relation to the person - that higher percentage.
View history note
Hide history noteFor the purposes of this Part, an unacceptable control situation exists in relation to a licensed trustee company and in relation to a particular person if the person's voting power in the trustee company is more than:
(a) 15 % ; or
(b) if an approval of a higher percentage is in force under Division 2 in relation to the trustee company and in relation to the person - that higher percentage.
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