Document ID: chunk:federal_register_of_legislation:C2024C00680:section:41
Version: federal_register_of_legislation:C2024C00680
Segment Type: section
Provision Reference: s 41
Character Range: 65857–66644

41  Acquisitions of shares
  If:
 (a) a person, or 2 or more persons under an arrangement, acquire shares in a company; and
 (b) the acquisition has the result, in relation to an airport‑operator company, that:
 (i) an unacceptable foreign‑ownership situation comes into existence in relation to the company; or
 (ii) if an unacceptable foreign‑ownership situation already exists in relation to the company—there is an increase in the total of any type of stake held by any group of foreign persons in the company; and
 (c) the person or persons mentioned in paragraph (a) knew, or were reckless as to whether, the acquisition would have that result;
the person or persons mentioned in paragraph (a) commit an offence punishable on conviction by a fine not exceeding 400 penalty units.