Statute
Section 601VAA — Corporations Act 2001: Meaning of unacceptable control situation—licensed trustee company or a proposed licensed trustee company
Text of the provision Official document
An unacceptable control situation exists in relation to: (a) a licensed trustee company and in relation to a particular person; or (b) a proposed licensed trustee company and in relation to a particular person; if the person’s voting power in the company is more than: (c) 15%; or (d) if an approval of a higher percentage is in force under Division 2 in relation to the company and in relation to the person—that higher percentage.
Official source: Federal Register of Legislation
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