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QUEEN'S WHARF BRISBANE ACT 2016 - SECT 22 Convertible securities

QUEEN'S WHARF BRISBANE ACT 2016 - SECT 22

Convertible securities

22 Convertible securities

(1) This section applies to convertible securities in—
(a) the licensee or IR Holdco; or
(b) any other relevant entity that is a trustee of the IR Holding Trust or IR Operating Trust; or
(c) the IR Holding Trust or IR Operating Trust.
(2) The total number of convertible securities in which a person has a relevant interest must not, without the required approval, be—
(a) more than 10% but not more than 20% of the total number of convertible securities of the same class on issue; or
(b) more than 20% of the total number of convertible securities of the same class on issue.
(3) For subsection (2) (a) or (b) , the required approval must be given by the Governor in Council.
(4) For this section, a person’s relevant interest in convertible securities includes a relevant interest of an associate of the person in convertible securities of the same class, other than the convertible securities in which the person has a relevant interest.
(5) If a person has a relevant interest in convertible securities in more than 1 relevant entity mentioned in subsection (1) , the person must comply with subsection (2) in relation to each of the entities.