Document ID: chunk:federal_register_of_legislation:F2024C01235:reg:41:p1
Version: federal_register_of_legislation:F2024C01235
Segment Type: reg
Provision Reference: reg 41 (pt 1/2)
Character Range: 94559–97221

41  Exemptions for certain acquisitions
 (1) This section applies for the following provisions:
 (aa) section 55B of the Act (meaning of notifiable national security action);
 (a) Division 3 of Part 2 of the Act (meaning of notifiable action);
 (b) Part 4 of the Act (notices required for notifiable actions and notifiable national security actions, and may be given of other actions);
 (c) any other provision of the Act or the regulations to the extent that it relates to any of those provisions.
Note: Part 7A of the Act does not apply in relation to an acquisition mentioned in subsection (2) of this section: see section 58KA of this instrument.
 (2) The provisions specified in subsection (1) of this section do not apply in relation to a person's acquisition of an interest in securities in an entity (including securities in a land entity) if:
 (a) the person's acquisition of the interest is under, and the interest has not been previously offered for issue under, any of the following:
 (i) a rights issue (within the meaning of the Corporations Act 2001);
 (ii) a rights issue (within the meaning of a law of a foreign country or a part of a foreign country) if the issue is regulated by a law of that foreign country or that part of a foreign country;
 (iii) an issue of securities that is similar to a rights issue (within the meaning of the Corporations Act 2001) and is an issue of a kind covered by an instrument made by ASIC under that Act; or
 (b) all of the following apply:
 (i) the entity is listed for quotation in the official list of a stock exchange in Australia;
 (ii) that listing is the entity's primary listing in an official list of a stock exchange;
 (iii) the person's acquisition is under a dividend reinvestment plan, a bonus share plan, a distribution reinvestment plan or a switching facility; or
 (c) all of the following apply:
 (i) immediately before the person's acquisition, the person holds an interest of a particular percentage (the person's allowable percentage) in the entity;
 (ii) the person's acquisition is of a kind whereby additional interests in the entity are only made available for acquisition by each holder of existing interests in the entity in a proportion equal to the percentage interest that such a holder holds in the entity immediately before the acquisition;
 (iii) the portion acquired by the person, and all of the person's associates, of those additional interests made available to all holders of existing interests in the entity, expressed as a percentage, is no more than the person's allowable percentage;
 (iv) at the time of the person's acquisition, the person has no reasonable grounds