Section 850B — Corporations Act 2001: Meaning of unacceptable control situation

(1) An unacceptable control situation exists in relation to a widely held market body and in relation to a particular person if the person’s voting power in the body is more than: (a) 20%; or (b) in relation to a body other than the ASX Limited—if an approval of a higher percentage is in force under Subdivision B in relation to the body and in relation to the person, that higher percentage; or (c) in relation to the ASX Limited—if the regulations prescribe a higher percentage in relation to the ASX Limited in relation to the person, that higher percentage. (2) Regulations made for the purposes of paragraph (1)(c) may not take effect before the first day those regulations are no longer liable to be disallowed, or to be taken to have been disallowed, under section 42 of the Legislation Act 2003.