(1) ASIC may determine in writing that a number of different bodies are
closely related and that their transactions should be aggregated for the
purposes of this Chapter. If ASIC does so:
- (a)
- an issue, sale or transfer of
securities in any other bodies is taken to also be an issue, sale or transfer
of the securities of each of the other bodies by those bodies; and
- (b)
- any money received from an issue, sale or transfer of securities in any of
the bodies is taken to also be received by each of the other bodies from an
issue, sale or transfer of its own securities.
ASIC must give written notice of the determination to each of the bodies.
(2) ASIC may determine in writing that the transactions of a body and of a
person who controls the body should be aggregated for the purposes of this
Chapter. If ASIC does so:
- (a)
- an issue of securities in the body is taken to
also be the transfer of the securities by the controller; and
- (b)
- any money received from an issue of securities in the body is taken to
also be received by the controller from a transfer of the securities; and
- (c)
- a sale or transfer of securities in the body by the controller is taken to
also be the issue of the securities by the body; and
- (d)
- any money received from a sale or transfer of securities in the body by
the controller is taken to also be received by the body from an issue of the
securities.
ASIC must give written notice of the determination to the body and the
controller.
Commonwealth Numbered Acts