Application for approval to exceed 20% shareholding limit
13 Application for approval to exceed 20% shareholding limit
A person may apply to the Treasurer for approval to hold a stake in a particular financial sector company of more than 20%.
The application may be in relation to a company that is not a financial sector company at the time the application is made.
The application must:
specify whether the applicant is seeking for the approval to be granted on the basis of either paragraph 14(1)(a) or (b); and
specify the percentage of the stake (if any) the person currently holds in the company concerned; and
specify the percentage of the stake the person is seeking approval to hold in the company; and
set out the person’s reasons for making the application; and
be accompanied by the prescribed fee (if any).
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