Document ID: chunk:federal_register_of_legislation:C2023C00427:clause:2_39
Version: federal_register_of_legislation:C2023C00427
Segment Type: clause
Provision Reference: sch 2 cl 39
Character Range: 61400–63570

39  Certain interests in shares to be disregarded
(1) For the purposes of this Part, the following interests must be disregarded:
 (a) an interest in a share held by a person whose ordinary business includes the lending of money if the person holds the interest as a loan security;
 (b) an interest in a share held by a person, being an interest held by the person because the person holds a prescribed office;
 (c) an interest of a prescribed kind in a share, being an interest held by such persons as are prescribed.
(2) For the purposes of this Part, if:
 (a) a person holds an interest in a share as a loan security; and
 (b) the ordinary business of the person includes the lending of money; and
 (c) the loan security is enforced; and
 (d) as a result of the enforcement of the loan security, the person becomes the holder of the share; and
 (e) the person holds the share for a continuous period (the holding period) beginning at the time when the security was enforced;
the person's interest in the share must be disregarded at all times during so much of the holding period as occurs during whichever of the following periods is applicable:
 (f) the period of 90 days beginning when the security was enforced;
 (g) if the Minister for Finance, by written notice given to the person, allows a longer period—the end of that longer period.
(3) For the purposes of this Part, if:
 (a) a person acquires an interest in a share in a Medibank Private company; and
 (b) the interest was acquired in the person's capacity as an underwriter or a sub‑underwriter under a Medibank Private sale scheme;
the person's interest in the share must be disregarded at all times during whichever of the following periods is applicable:
 (c) the period of 90 days beginning when the person acquired the interest;
 (d) if the Minister for Finance, by written notice given to the person, allows a longer period—that longer period.
(4) Applications may be made to the Administrative Appeals Tribunal for review of decisions made by the Minister for Finance under subitem (2) or (3).
(5) In subitem (4):
decision has the same meaning as in the Administrative Appeals Tribunal Act 1975.