Document ID: chunk:federal_register_of_legislation:C2025C00185:section:852dc
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 852DC
Character Range: 3414882–3415635

852DC  Meaning of passes the legitimate control test
  A person passes the legitimate control test for having a particular percentage of voting power in a controlled Australian financial body unless it is reasonable to expect that the person's having of that percentage of voting power in the body would adversely affect:
 (a) if the body is a licensee mentioned in any of subparagraphs 852DA(2)(b)(i) to (iv)—the body's ability to meet one or more of its obligations as such a licensee under this Act; or
 (b) if the body is the holding company of a licensee mentioned in any of subparagraphs 852DA(2)(b)(i) to (iv)—the licensee's ability to meet one or more of its obligations as such a licensee under this Act.

Subdivision B—20% voting power limit