Section 850C — Corporations Act 2001: Acquisitions of shares

If: (a) a person, or 2 or more persons under an arrangement, acquire shares in a body corporate; and (b) the acquisition has the result, in relation to a widely held market body, that: (i) an unacceptable control situation comes into existence in relation to the body and in relation to a person; or (ii) if an unacceptable control situation already exists in relation to the body and in relation to a person—there is an increase in the voting power of the person in the body; the person or persons mentioned in paragraph (a) contravene this section. Note: A contravention of this section is an offence (see subsection 1311(1)).