Document ID: chunk:federal_register_of_legislation:C2025C00185:section:601vba
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 601VBA
Character Range: 2385104–2385773

601VBA  Application for approval to exceed 15% voting power limit
 (1) A person may apply for approval to have voting power of more than 15% in a particular licensed trustee company or proposed licensed trustee company by lodging with ASIC an application that:
 (a) specifies the percentage of voting power (if any) the person currently has in the company; and
 (b) specifies the percentage of voting power the person is seeking approval to have in the company; and
 (c) sets out the person's reasons for making the application.
Note: For fees in respect of lodging applications, see Part 9.10.
 (2) ASIC must give the application to the Minister as soon as possible.