•      Financial sector companies are subject to a 15% shareholding limit. The Treasurer may approve a higher percentage limit on national interest grounds.

•      Those limits relate to a person's stake in a company.

•      A person's stake is the aggregate of the person's voting power and the voting power of the person's associates.

•      A person whose stake in a financial sector company does not exceed 15% may be declared by the Treasurer to have practical control of the company.

•      The person covered by the declaration must take steps to ensure that the person does not have:

               (a)     a stake that exceeds 15%; or

               (b)     practical control.

•      The regulations may require records to be kept, and information to be given, for purposes relating to the restrictions on shareholdings.