Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_850b
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 850B
Character Range: 178610–179546

850B  Meaning of unacceptable control situation

 (1) For the purposes of this Division, an unacceptable control situation exists in relation to a widely held market body and in relation to a particular person if the person's voting power in the body is more than:
 (a) 15%; or
 (b) in relation to a body other than the Australian Stock Exchange Limited—if an approval of a higher percentage is in force under Subdivision B in relation to the body and in relation to the person, that higher percentage; or
 (c) in relation to the Australian Stock Exchange Limited—if the regulations prescribe a higher percentage in relation to the Australian Stock Exchange Limited in relation to the person, that higher percentage.

 (2) Regulations made for the purposes of paragraph (1)(c) may not take effect earlier than the day after the last day on which the regulations may be disallowed under section 48 of the Acts Interpretation Act 1901.