Foreign Acquisitions and Takeovers Act 1975

The voting power in an entity or unincorporated limited partnership is the maximum number of votes that might be cast at a general meeting of the entity or partnership.

For the definition of general meeting, see section 4.

The potential voting power in an entity or unincorporated limited partnership is the voting power in the entity or partnership, on the assumption that the votes that might be cast at a general meeting of the entity or partnership included each vote that:

because of the exercise of a right might come into existence in the future (whether or not the right is exercisable presently or in the future or on the fulfilment of a condition); and

if it came into existence, might be cast at a general meeting of the entity or partnership.

Different voting rights might attach to different classes of securities in an entity.

In determining how much of the potential voting power in an entity or unincorporated limited partnership a person is in a position to control at a particular time, if:

a right exists that, if exercised, would result in the person being in a position to control more of the potential voting power in the entity or partnership than the person would be in a position to control if the right were not exercised; and

it cannot be determined at that time (whether from the right itself or from the circumstances existing at that time) whether the right would be exercised;

If a person is in a position to veto any resolution of the board, central management or general meeting of an entity or unincorporated limited partnership, then for the purposes of this Act (except paragraph 47(2)(b) (meaning of notifiable action) and subsection 54(4) (meaning of control)) the person is taken to be in a position to control 20% of the potential voting power in the entity or partnership.