Document ID: chunk:federal_register_of_legislation:C2004A02490:body:0:p27
Version: federal_register_of_legislation:C2004A02490
Segment Type: other
Provision Reference: 
Character Range: 66404–69086

which he gives a notice in relation to the transaction in accordance with paragraph (3) (a) (modified so far as is necessary to take account of the fact that the transaction has taken place); or
     (d) the day on which he lodges an application in relation to the transaction in accordance with sub-section (7a).
"(7f) A person who fails to comply with sub-section (7) or (7a) is guilty of a separate offence in respect of each day (including the day of a conviction under this sub-section or any subsequent day) during which the failure continues.
"(7g) In relation to a notice given in relation to a transaction under paragraph (3) (a) that states the maximum number of shares 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.".

27. After section 90j of the Principal Act the following section is inserted:

Approval of transactions
"90ja. (1) Subject to sub-section (2), where an application in relation to a transaction is made in accordance with section 90j, 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 90j, 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 application was so 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 90j, to the transaction—the Tribunal is