Document ID: chunk:federal_register_of_legislation:C2004A02490:body:0:p49
Version: federal_register_of_legislation:C2004A02490
Segment Type: other
Provision Reference: 
Character Range: 120110–122781

or acts on behalf of, that other person in the proper performance of the functions attaching to his professional capacity.
"(6) This section applies to a person in relation to a transaction if, and only if—
     (a) the person is a party to the transaction;
     (b) as a result of the transaction, the person becomes the holder of shareholding interests in a prescribed company; and
     (c) by reason of the person being the holder of those shareholding interests (together with any other shareholding interests of which he is the holder) the person—
          (i) is in a position to exercise control of that company; or
          (ii) would be in such a position if he were also the holder of the total shareholding interests in that company held, whether or not as a result of the transaction, by any associate or associates of the person.
"(7) Where—
     (a) this section applies to a person in relation to a transaction; and
     (b) the transaction takes place without the Tribunal first having approved the transaction in whole or in part in so far as it affects the person,
the person is guilty of a separate offence in respect of each day (including the day of a conviction under this sub-section or any subsequent day) during which he holds shareholding interests in the prescribed company to which the transaction relates exceeding in amount or proportion the shareholding interests that he had in that company immediately before the transaction took place.
"(8) Where a transaction in relation to which this section applies to a person takes place as described in paragraph (7) (b)—
     (a) notwithstanding anything in section 92f or 92faa, the Tribunal shall not approve the transaction in whole or in part in so far as it affects the person; and
     (b) sub-section 92f (7a) does not apply to the person in relation to the transaction.
"(9) This section does not apply in relation to a transaction that takes place on or after 1 July 1983.".

37. Section 92ja of the Principal Act is repealed and the following section is substituted:

Tribunal may seek information
"92ja. (1) Where the Tribunal has reason to believe that a person is capable of supplying information, or producing documents, considered by the Tribunal to be necessary to enable it to exercise any of its powers, or perform any of its functions or duties, under this Division, the Tribunal may, by notice in writing served on the person, require the person to supply any such information, or produce any such documents, within a specified period (not being less than 21 days after the date of service of the notice) or within such further period as the Tribunal, on application, allows