Document ID: chunk:federal_register_of_legislation:C2005A00147:clause:1_79:p20
Version: federal_register_of_legislation:C2005A00147
Segment Type: clause
Provision Reference: sch 1 cl 79 (pt 20/25)
Character Range: 80852–83477

by a *depository entity whose owners have not been disclosed, the depository entity:
 (a) controls, or is able to control, the voting power in the tested company that is carried by those shares at that time; and
 (b) *indirectly had the right to receive, for its own benefit:
 (i) any *dividends the tested company may pay in respect of those shares at that time; and
 (ii) any distributions of capital of the tested company in respect of those shares at that time; and
 (c) were a person (other than a company).

Note: The persons who actually control the voting power and have rights to dividends and capital are taken not to control that power or have those rights: see section 166‑265.

 (3) If the effect of subsection (2) is that the *depository entity is taken to hold:
 (a) a *voting stake that carries rights to less than 10% of the voting power in the tested company; or
 (b) a *dividend stake that carries the right to receive less than 10% of any dividends that the tested company may pay; or
 (c) a *capital stake that carries the right to receive less than 10% of any distribution of capital of the tested company;
then neither section 166‑225 nor section 166‑230 applies in respect of that stake.

 (4) If the *depository entity (the old depository entity) is subsequently replaced by another depository entity (the new depository entity), then, at all times that the old depository entity held or is taken to have held a stake in the tested company, the new entity is taken to have held that stake.

 (5) A depository entity is an entity:
 (a) that is a central securities repository; and
 (b) that provides custody of share certificates; and
 (c) that provides services for the exchange of shares.

Other rules relating to voting power and rights

166‑265  Persons who actually control voting power or have rights are taken not to control power or have rights

  If any of sections 166‑225, 166‑230, 166‑240, 166‑245, 166‑255 or 166‑260 apply, the ownership tests in section 166‑145 are also applied to the tested company as if, at the *ownership test time:
 (a) the persons who control, or are able to control, the voting power in the tested company (whether directly, or indirectly through one or more interposed entities) that is carried by each *voting stake in the tested company mentioned in that section had not had that control; and
 (b) the persons who have the right to receive for their own benefit (whether directly, or *indirectly through one or more interposed entities):
 (i) any *dividends that the tested company may pay in respect of each *dividend stake in the tested company mentioned in