Document ID: chunk:federal_register_of_legislation:C2004A02490:body:0:p24
Version: federal_register_of_legislation:C2004A02490
Segment Type: other
Provision Reference: 
Character Range: 59104–61841

respect of, or to hold shareholding interests in, a company notwithstanding that they are not acting in concert or otherwise associated.".

Changes in ownership of shares, &c.
26. Section 90j of the Principal Act is amended by omitting sub-sections (2) to (7) (inclusive) and substituting the following sub-sections:
"(2) Except in so far as the contrary intention appears, in the succeeding provisions of this section—

     (a) a reference to a transaction shall be read as a reference to a transaction in relation to which this section applies to a person; and
     (b) a reference to a prescribed party, in relation to a transaction, shall be read as a reference to a person to whom this section applies in relation to the transaction, being a person who is a party to the transaction or, in the case of a proposed transaction, would be a party to the transaction if the transaction were in effect.
"(3) Where a transaction is proposed, the prescribed party to the transaction or, where there are 2 or more prescribed parties to the transaction, each prescribed party, may—
     (a) give the Tribunal a notice in writing, stating—
          (i) the number, or, if the prescribed party so desires, the maximum number, of shares that will be concerned in the transaction;
          (ii) the name of the company the shares in which will be concerned in the transaction;
          (iii) whether or not the prescribed party has a prescribed interest in a licence for a commercial broadcasting station or for a commercial television station (which may include the licence to which the transaction relates) and, if so, setting out particulars of each such prescribed interest;
          (iv) whether or not, by reason of the shareholding interests to be held as a result of the transaction, together with any other shareholding interests, the prescribed party will have a prescribed interest in a licence referred to in sub-paragraph (iii) and, if so, setting out particulars of each such prescribed interest;
          (v) whether or not those shareholding interests will result in a contravention of section 90f and, if so, setting out particulars of the contravention; and
          (vi) whether or not those shareholding interests will result in a contravention of, or failure to comply with, a condition of the licence to which the transaction relates; or
     (b) lodge an application with the Tribunal, in accordance with the form approved by the Tribunal, for approval of the transaction in so far as it affects the prescribed party.
"(4) For the purposes of paragraph (3) (a), a notice may be given to the Tribunal by lodging it with the Tribunal or by sending it to the Tribunal by post or by telegram or in any other manner.
"(5)