Meaning of threshold value
4C Meaning of threshold value
This regulation applies to a control transaction in relation to:
a regulation 4 body; or
a listed registered scheme.
For the purposes of this regulation, a security is:
a share in the regulation 4 body; or
an interest in the listed registered scheme;
other than a share or interest issued under the control transaction.
The threshold value for:
a lodgement under subsection 411(10) of the Corporations Act of a copy of an order of approval of a Part 5.1 arrangement in relation to the regulation 4 body that is, or is part of, the control transaction; or
if the control transaction includes a modification of the constitution of the listed registered scheme, or the repeal and replacement of the constitution of the listed registered scheme—a lodgement under subsection 601GC(2) of the Corporations Act of a copy of the modification, or a copy of the new constitution of the listed registered scheme;
is the amount worked out using the following formula:
Start formula The value, at lodgement, of the consideration payable, per security, under the control transaction for acquiring a security or for the cancellation of a security times The number of securities at lodgement, including any securities which are not acquired or cancelled under the control transaction end formula
If the control transaction provides for the acquisition or cancellation of securities in only one class of securities, treat a reference in subregulation (3) to a security as being a reference to a security of that class.
If the control transaction provides for the acquisition or cancellation of securities in 2 or more classes of securities, work out the threshold value for the lodgement by:
applying the formula in subregulation (3) to work out an amount in respect of each of those classes, treating a reference in that formula to a security as being a reference to a security in that class; and
adding up the amounts worked out under paragraph (a) of this subregulation.
This Act’s bill:Explanatory statement
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