Corporations Act 2001
The Minister may grant the application if the Minister is satisfied that it would be in the interests of the licensed trustee company and its clients for the application to be granted.601VBB(2) [ Minister approval notice]
(a) give written notice of the approval to the applicant; and
(b) specify the percentage of the voting power the Minister approves the applicant having in the licensed trustee company (which may or may not be the percentage the applicant applied for); and
(i) specify the period during which the approval remains in force; or
601VBB(3) [ Notice of refusal]
(ii) specify that the approval remains in force indefinitely.
If the Minister refuses the application, the Minister must give written notice of the refusal to the applicant.601VBB(4) [ Approval to be published and given to company]
(a) published in the Gazette; and
(b) given to the licensed trustee company concerned.