Commonwealth Consolidated Acts

FINANCIAL SECTOR (SHAREHOLDINGS) ACT 1998 - SECT 11

                   If:

                     (a)  a person, or 2 or more persons under an arrangement, acquire shares in a company; and

                     (b)  the acquisition has the result, in relation to a financial sector company, that:

                              (i)  an unacceptable shareholding situation comes into existence in relation to the company and in relation to a person; or

                             (ii)  if an unacceptable shareholding situation already exists in relation to the company and in relation to a person--there is an increase in the stake held by the person in the company; and

                     (c)  the person or persons mentioned in paragraph (a) were reckless as to whether the acquisition would have that result;

the person or persons mentioned in paragraph (a) are guilty of an offence punishable on conviction by a fine not exceeding 400 penalty units.

Note:          Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.