Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 601VAA

Meaning of unacceptable control situation

                   For the purposes of this Part, an unacceptable control situation exists in relation to a licensed trustee company and in relation to a particular person if the person's voting power in the trustee company is more than:

                     (a)  15%; or

                     (b)  if an approval of a higher percentage is in force under Division 2 in relation to the trustee company and in relation to the person--that higher percentage.



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