Commonwealth Consolidated Acts Commonwealth Consolidated ActsFor 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.