Section 852DD — Corporations Act 2001: Acquisition of shares

A person contravenes this section if: (a) the person acquires, or the person with one or more other persons under an arrangement acquire, shares in a body corporate; and (b) the acquisition has the result that: (i) an unacceptable control situation comes into existence in relation to a controlled Australian financial body and a person; or (ii) if an unacceptable control situation already exists in relation to a controlled Australian financial body and a person (the controller)—there is an increase in the voting power of the controller in the controlled Australian financial body. Note 1: The person mentioned in subparagraph (b)(i) or (b)(ii) need not be the person who contravenes this section. Note 2: A contravention of this section is an offence (see subsection 1311(1)).