Document ID: chunk:federal_register_of_legislation:C2025C00185:section:601vaa
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 601VAA
Character Range: 2381519–2382073

601VAA  Meaning of unacceptable control situation—licensed trustee company or a proposed licensed trustee company
  An unacceptable control situation exists in relation to:
 (a) a licensed trustee company and in relation to a particular person; or
 (b) a proposed licensed trustee company and in relation to a particular person;
if the person's voting power in the company is more than:
 (c) 15%; or
 (d) if an approval of a higher percentage is in force under Division 2 in relation to the company and in relation to the person—that higher percentage.