Document ID: chunk:federal_register_of_legislation:C2004A02490:body:0:p31
Version: federal_register_of_legislation:C2004A02490
Segment Type: other
Provision Reference: 
Character Range: 76236–78974

relation to which section 90j applies to a person who is a party to the transaction, takes place—
     (a) after notice is served on the person under sub-section (2) refusing approval of the transaction in whole or in part; or
     (b) after approval of the transaction in whole or in part ceases to have effect in pursuance of a condition imposed under sub-section (5),
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 (not being, in a case to which paragraph (a) applies, interests in respect of which approval has been granted under this section) in the 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.
"(11) Where—
     (a) an application is lodged by a person under sub-section 90j (7a) in relation to a transaction;
     (b) a notice is served on the person under sub-section (2) refusing approval of the transaction in whole or in part; and
     (c) after the expiration of the period of 6 months after the date of service of the notice or such longer period as the Tribunal, on application, allows by notice in writing served on the person within that period of 6 months, the person holds shareholding interests in the company to which the transaction relates exceeding in amount or proportion—
          (i) where approval of the whole transaction is refused—the shareholding interests that he had in that company immediately before the transaction took place; or
          (ii) where approval of part of the transaction is refused—the shareholding interests that he had in that company immediately before the transaction took place together with the shareholding interests in respect of which approval is granted,
the person is guilty of a separate offence in respect of each day (including the day of a conviction under this sub-section or a subsequent day) during which he so holds those interests.
"(12) A reference in this section to the proportion of a person's shareholding interests in a company has the same meaning as in section 90j.
"(13) The Tribunal shall not approve a transaction in relation to which section 90j applies except as provided by this section.".

28. Section 90p of the Principal Act is repealed and the following section is substituted:

Tribunal may seek information
"90p. (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