Section 601VBA — Corporations Act 2001: Application for approval to exceed 15% voting power limit

(1) A person may apply for approval to have voting power of more than 15% in a particular licensed trustee company or proposed licensed trustee company by lodging with ASIC an application that: (a) specifies the percentage of voting power (if any) the person currently has in the company; and (b) specifies the percentage of voting power the person is seeking approval to have in the company; and (c) sets out the person’s reasons for making the application. Note: For fees in respect of lodging applications, see Part 9.10. (2) ASIC must give the application to the Minister as soon as possible.