Document ID: chunk:federal_register_of_legislation:F2024C01022:reg:125
Version: federal_register_of_legislation:F2024C01022
Segment Type: reg
Provision Reference: reg 125
Character Range: 205883–206721

125  Change in beneficial ownership of permission holder that is a company
 (1) A permission holder that is a company must notify the Authority in writing if there is a change in the beneficial ownership of the company (the changed company) after the permission has been granted.
Note: It is an offence against section 136 not to notify the Authority of the change.
 (2) The notice must be:
 (a) in a form approved by the Authority; and
 (b) given to the Authority within 20 business days after the change occurs.
 (3) For the purposes of subsection (1), a change in the beneficial ownership of a company occurs when:
 (a) there is a change in the persons (whether individuals or bodies corporate) holding an interest in 50% or more of the total voting shares of the company; or
 (b) the company becomes a subsidiary of another company.