s 10
In forceMeaning of unacceptable shareholding situation
Part 2Restrictions on shareholdings in financial sector companies
Division 220% shareholding limit
10 Meaning of unacceptable shareholding situation
For the purposes of this Act, an unacceptable shareholding situation exists in relation to a particular financial sector company and in relation to a particular person if the person holds a stake in the company of more than:
(a)
20%; or
(b)
if an approval of a higher percentage is in force under Division 3 in relation to the company and in relation to the person—that higher percentage.
Note:
A person’s stake includes the interests of the person’s associates—see Schedule 1.
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