Document ID: chunk:federal_register_of_legislation:C2004A02490:body:0:p35
Version: federal_register_of_legislation:C2004A02490
Segment Type: other
Provision Reference: 
Character Range: 86040–88640

not, and is not likely to be, whether alone or in association with any other person or persons, in a position to exercise, either directly or indirectly, a significant influence on that company.
"(4) A certificate under this section shall not authorize a person to hold interests in a company such that, if the person were the holder of those interests, or of those interests together with any interests for the time being authorized by another certificate or other certificates issued under this section to the person, the person would be—
     (a) in a position to exercise control of more than 10% of the maximum number of votes that could be cast on a poll at, or arising out of, a general meeting of the company, whether as regards all questions that could be submitted to such a poll or as regards one or more only of such questions;
     (b) the holder of interests in the company exceeding in amount 10% of the total of the amounts of all the interests in the company that would exist if sections 91a and 91b had not been enacted; or
     (c) the holder of shareholding interests in the company exceeding in amount 10% of the total of the amounts paid on all shares of the company.
"(5) A certificate under this section may be made subject to the condition that it ceases to have effect on a specified date, being not less than 12 months after the date on which the certificate is issued.
"(6) If, at any time after a certificate has been issued authorizing a person to hold interests in a company, the Tribunal becomes aware of circumstances by reason of which it would be prohibited by sub-section (3) from issuing a certificate authorizing the person to hold those interests, the Tribunal shall serve a notice in writing on the person setting out particulars of the circumstances and inviting him to lodge with the Tribunal, within a specified period, being not less than 14 days after the service of the notice, a submission in writing stating why the certificate should not be revoked.
"(7) After the expiration of the period specified in a notice served on a person under sub-section (6) and after considering any submission lodged in response to the notice, the Tribunal shall, by notice in writing, revoke the certificate concerned if it would be prohibited by sub-section (3) from issuing a certificate authorizing the person to hold the interests to which the first-mentioned certificate relates.
"(8) The revocation of a certificate under sub-section (7) takes effect at the expiration of the period of 6 months after the date of service of the notice of revocation or such further