CORPORATIONS ACT 2001 - SECT 851A Application for approval to exceed 15% voting power limit

CORPORATIONS ACT 2001 - SECT 851A

  (1)   A person may apply for approval to have voting power of more than 15% in a particular widely held market body (other than the Australian Stock Exchange Limited) by lodging with ASIC an application that:

  (a)   specifies the percentage of voting power (if any) the person currently has in the widely held market body; and

  (b)   specifies the percentage of voting power the person is seeking approval to have in the body; and

  (c)   sets out the person's reasons for making the application.

Note:   For fees in respect of lodging applications, see Part   9.10.

  (2)   ASIC must give the application to the Minister as soon as possible.