Document ID: chunk:federal_register_of_legislation:C2020C00315:clause:1_8
Version: federal_register_of_legislation:C2020C00315
Segment Type: clause
Provision Reference: sch 1 cl 8
Character Range: 72182–73549

8  Certain interests in shares to be disregarded
 (1) For the purposes of the ownership provisions, the following interests must be disregarded:
 (a) an interest in a share held by a person whose ordinary business includes the lending of money if the person holds the interest as a loan security;
 (b) an interest in a share held by a person, being an interest held by the person because the person holds a prescribed office;
 (c) an interest of a prescribed kind in a share, being an interest held by such persons as are prescribed.
 (2) For the purposes of the ownership provisions, if:
 (a) a person holds an interest in a share as a loan security; and
 (b) the ordinary business of the person includes the lending of money; and
 (c) the loan security is enforced; and
 (d) as a result of the enforcement of the loan security, the person becomes the holder of the share; and
 (e) the person holds the share for a continuous period (the holding period) beginning at the time when the security was enforced;
the person's interest in the share must be disregarded at all times during so much of the holding period as occurs during whichever of the following periods is applicable:
 (f) the period of 90 days beginning when the security was enforced;
 (g) if the Treasurer, by written notice given to the person, allows a longer period—the end of that longer period.