Document ID: chunk:federal_register_of_legislation:C2024C00828:section:566b
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 566B
Character Range: 1391897–1393293

566B  Meaning of control and change in control of registered holder
 (1) A person controls the registered holder of a title if the person (whether alone or together with one or more other persons the person acts jointly with):
 (a) holds the power to exercise, or control the exercise of, 20% or more of the voting rights in the registered holder; or
 (b) holds, or holds an interest in, 20% or more of the issued securities in the registered holder.
 (2) A person acts jointly with another person if the person acts or is accustomed to acting in agreement with, or in accordance with the wishes of, the other person.
 (3) The regulations may prescribe a different percentage, or different percentages, to the percentage specified in paragraph (1)(a) or (b).
 (4) There is a change in control of a registered holder of a title if:
 (a) one or more persons (an original controller) control the registered holder of a title at a particular time; and
 (b) either:
 (i) one or more other persons begin to control the registered holder (whether alone or together with one or more other persons the person acts jointly with) after that time; or
 (ii) an original controller (whether alone or together with one or more other persons the person acts jointly with) ceases to control the registered holder after that time.

Part 5A.2—Application and approval of change in control of a registered holder