CORPORATIONS ACT 2001

CHAPTER 5D - LICENSED TRUSTEE COMPANIES  

PART 5D.5 - LIMIT ON CONTROL OF LICENSED TRUSTEE COMPANIES  

Division 1 - 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.


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