Document ID: chunk:federal_register_of_legislation:F2023L01078:body:0:p2
Version: federal_register_of_legislation:F2023L01078
Segment Type: other
Provision Reference: 
Character Range: 2636–3708

(b)  the person holds a stake in the RSE licensee at a particular time of more than 15% only as a result of the aggregation of:
         (i)                 the direct control interest in the RSE licensee that the person holds at that time; and
         (ii)                the direct control interests in the RSE licensee held at that time by associates of the person; and
     (c)   the associates of the person referred to in paragraph (b)(ii) are associates only by operation of clause 4(1)(e) of Schedule 1 of the FSS Act and are a director of the RSE licensee; and
     (d)  the person acquires the controlling stake in the RSE licensee on or after the date of commencement of this instrument; and
     (e)  the person is not entitled to any financial benefit directly arising from the person's shareholding in the RSE licensee; and
     (f)     the person must as soon as practicable after ceasing to be a director of the RSE licensee transfer or forfeit the person's shareholding in the RSE licensee subject to the terms of the RSE licensee's constituent document.