Document ID: chunk:federal_register_of_legislation:C2025C00185:section:610:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 610 (pt 2/2)
Character Range: 2456791–2458268

subsidiary acquiring an interest in securities from its holding company with the result that the subsidiary acquires a relevant interest in particular voting shares unless:
 (a) the acquisition results in an increase of another person's voting power in a designated body; and
 (b) that other person is not a subsidiary of the ultimate holding company.
 (4) Disregard the operation of section 613 in working out a person's voting power in a designated body.

When a designated body is a managed investment scheme
 (5) For the purposes of the application of this section in relation to a designated body that is a managed investment scheme:
 (a) a reference to voting shares in the designated body is taken to be a reference to voting interests in the scheme; and
 (b) a reference to the election of directors of the designated body is taken to be a reference to:
 (i) if the scheme is a registered scheme—the appointment of a responsible entity for the scheme; or
 (ii) if the scheme is not a registered scheme—the appointment of a person to the office (by whatever name it is known) in relation to the scheme that corresponds most closely to the office of responsible entity of a registered scheme; and
 (c) a reference to the designated body's constitution is taken to be a reference to the scheme's constitution.

Meaning of designated body
 (6) In this section:
designated body means:
 (a) a body; or
 (b) a managed investment scheme.

Part 6.2—Exceptions to the prohibition