Document ID: chunk:federal_register_of_legislation:C2004A02490:body:0:p43
Version: federal_register_of_legislation:C2004A02490
Segment Type: other
Provision Reference: 
Character Range: 105316–108062

of shares, or the maximum amount of moneys secured by debentures, that will be concerned in the transaction, a reference in this section to the transaction includes a reference to any transaction that differs from that transaction by reason only that it concerns a lesser number of shares or amount of moneys so secured, as the case maybe.".

36. After section 92f of the Principal Act the following sections are inserted:

Approval of transactions
"92faa. (1) Subject to sub-section (2), where an application in relation to a transaction is made in accordance with section 92f, the Tribunal shall, by notice in writing served on the applicant, approve the transaction in so far as it affects the applicant.
"(2) Where an application in relation to a transaction is so made and—
     (a) where sub-section (4) applies to the applicant—the Tribunal, if the application were an application for the consent of the Tribunal under section 89a to the transfer to the applicant of the licence to which the transaction relates, would be required or empowered to refuse the application;
     (b) where the applicant is a prescribed party, within the meaning of section 92f, to the transaction—the licence to which the transaction relates was granted (otherwise than by way of renewal) within 2 years before the date on which the notice or application was so given to or lodged with the Tribunal; or
     (c) where sub-section (4) does not apply to the applicant—it appears to the Tribunal that it is advisable in the public interest that approval of the transaction should be refused in whole or in part in so far as it affects the applicant, having regard only to the following matters or circumstances:
          (i) the effect, if any, that the transaction will have, or has had, as the case requires, on the capacity of the holder of the licence to which the transaction relates to comply with the conditions of the licence or any undertaking given under sub-section 83 (5), 86 (10) or 89a (1A) in relation to the licence;
          (ii) if the applicant is a prescribed party, within the meaning of section 92f, to the transaction—the Tribunal is satisfied that approval of the transaction should be refused in whole or in

          part in so far as it affects the applicant by reason that the applicant—
              (a) is not a fit and proper person to hold the interests to which the transaction relates; or
              (b) does not have the financial, technical or management capabilities necessary effectively to operate the television station to which the licence relates;
          (iii) if—
              (a) the licence to which the transaction relates is not a licence referred to in paragraph 92 (1) (c); and
              (b) in the