Document ID: chunk:federal_register_of_legislation:C2005A00147:clause:1_1
Version: federal_register_of_legislation:C2005A00147
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 4023–6257

1  After subsection 80B(8)
Insert:

 (8A) A person is not prevented from:
 (a) beneficially owning shares in a company; or
 (b) having the right to exercise voting power in a company; or
 (c) having the right to receive any dividends that may be paid by a company; or
 (d) having the right to receive any distribution of capital of a company;
merely because:
 (e) the company is or becomes:
 (i) an externally‑administered body corporate within the meaning of the Corporations Law (as set out in section 82 of the Corporations Act 1989); or
 (ii) a body with a similar status, under the Companies Code of the relevant State or a foreign law, to an externally‑administered body corporate; or
 (f) either:
 (i) a provisional liquidator is appointed to the company under section 472 of the Corporations Law (as set out in section 82 of the Corporations Act 1989); or
 (ii) a person with a similar status, under the Companies Code of the relevant State or a foreign law, to a provisional liquidator is appointed to the company.

 (8B) A company (the stakeholding company) is not prevented from:
 (a) beneficially owning shares, or any other interests in shares, in another company; or
 (b) having the right to exercise voting power in another company either directly or indirectly; or
 (c) having the right to receive, either directly or indirectly, any dividends that may be paid by another company; or
 (d) having the right to receive, either directly or indirectly, any distribution of capital of another company;
merely because:
 (e) the stakeholding company is or becomes:
 (i) an externally‑administered body corporate within the meaning of the Corporations Law (as set out in section 82 of the Corporations Act 1989); or
 (ii) a body with a similar status, under the Companies Code of the relevant State or a foreign law, to an externally‑administered body corporate; or
 (f) either:
 (i) a provisional liquidator is appointed to the stakeholding company under section 472 of the Corporations Law (as set out in section 82 of the Corporations Act 1989); or
 (ii) a person with a similar status, under the Companies Code of the relevant State or a foreign law, to a provisional liquidator is appointed to the stakeholding company.