33
In forceProhibited shareholding interest
Part 3Licences to conduct totalizators
Division 3Maximum shareholding restrictions on licensees
33 Prohibited shareholding interest
(1)
A person has a prohibited shareholding interest in a licensee if the person is entitled to voting shares in the licensee that together constitute more than 10% of the total number of voting shares in the licensee.
(2)
For the purposes of this Division, a licensee or a subsidiary of a licensee cannot have a prohibited shareholding interest in the licensee.
(3)
A person must not have a prohibited shareholding interest in a licensee. A person who contravenes this subsection is guilty of an offence.
Maximum penalty—100 penalty units.
This Act’s bill:Explanatory memorandumSecond reading speech
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