Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p42
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 42/46)
Character Range: 3156052–3158585

than 10%);
 (b) a *widely held company mentioned in section 166‑240;
 (c) an entity mentioned in subsection 166‑245(2) (which is about stakes held by other entities);
 (d) a *depository entity mentioned in section 166‑260;
(whether directly, or *indirectly through one or more interposed entities).

Exactly the same shares or interests must continue to be held
 (2) For the purpose of determining whether the tested company has satisfied a condition or whether a time is a changeover time or an alteration time in respect of the tested company:
 (a) a condition that has to be satisfied is not satisfied; or
 (b) a time that, apart from this subsection, would not be a changeover time or alteration time is taken to be a changeover time or alteration time, as the case may be;
unless, at all relevant times:
 (c) the only *shares in the tested company that are taken into account are exactly the same shares and are held by the same persons; and
 (d) the only interests (including shares) in any other entity that is interposed between the stakeholder and the tested company that are taken into account are exactly the same interests and are held by the same persons.

What happens in case of share splitting
 (3) If:
 (a) a particular *share (an old share) in a company of which the stakeholder, or an entity interposed between the stakeholder and the tested company, is the holder at the start of the *test period is divided into 2 or more new shares during that period; and
 (b) the stakeholder or entity becomes the holder of each of the new shares immediately after the division takes place and remains the holder until the end of that period;
the new shares are taken to be exactly the same shares as the old share.

What happens in case of splitting of units in a unit trust
 (4) If:
 (a) a particular unit (an old unit) in a unit trust of which the stakeholder, or an entity interposed between the stakeholder and the tested company, is the holder at the start of the *test period is divided into 2 or more new units during that period; and
 (b) the stakeholder or entity becomes the holder of each of the new units immediately after the division takes place and remains the holder until the end of that period;
the new units are taken to be exactly the same units as the old unit.

What happens in case of consolidation of shares
 (5) If:
 (a) a particular *share (an old share) in a company of which the stakeholder, or an entity interposed between the stakeholder and the tested company, is the holder at the start of the