Document ID: chunk:federal_register_of_legislation:C2025C00185:section:609:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 609 (pt 2/3)
Character Range: 2440849–2443644

the shares.

Proxies
 (5) A person does not have a relevant interest in securities merely because the person has been appointed to vote as a proxy or representative at a meeting of members, or of a class of members, of the company, body or managed investment scheme if:
 (a) the appointment is for one meeting only; and
 (b) neither the person nor any associate gives valuable consideration for the appointment.

Market traded options and derivatives
 (6) A person does not have a relevant interest in securities merely because of:
 (a) an market traded option over the securities; or
 (b) a right to acquire the securities given by a derivative.
This subsection stops applying to the relevant interest when the obligation to make or take delivery of the securities arises.
Note: Without this subsection, subsection 608(8) would create a relevant interest from the option or contract.

Conditional agreements
 (7) A person does not have a relevant interest in securities merely because of an agreement if the agreement:
 (a) is conditional on:
 (i) a resolution under item 7 in the table in section 611 being passed; or
 (ii) ASIC exempting the acquisition under the agreement from the provisions of this Chapter under section 655A; and
 (b) does not confer any control over, or power to substantially influence, the exercise of a voting right attached to the securities; and
 (c) does not restrict disposal of the securities for more than 3 months from the date when the agreement is entered into.
The person acquires a relevant interest in the securities when the condition referred to in paragraph (a) is satisfied.

Pre‑emptive rights
 (8) A member of a company, body or managed investment scheme does not have a relevant interest in securities of the company, body or scheme merely because the company's, body's or scheme's constitution gives members pre‑emptive rights on the transfer of the securities if all members have pre‑emptive rights on the same terms.

Director of body corporate holding securities
 (9) A person does not have a relevant interest in securities merely because:
 (a) the person is a director of a body corporate; and
 (b) the body corporate has a relevant interest in those securities.

Clearing and settlement facilities
 (9A) The operator of a clearing and settlement facility does not have a relevant interest in securities merely because of its provision of facilities for the settlement of transactions.

Securities escrowed under listing rules
 (9B) A listed company does not have a relevant interest in securities merely because:
 (a) those securities are restricted securities within the meaning of the listing rules of a declared financial market; and
 (b) the company applies restrictions, in accordance with those rules, on the disposal of the securities