Commonwealth Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS ACT 2001 No. 50, 2001 - SECT 766F

Causing an unacceptable ownership situation

A person or persons (the acquirers ) are guilty of an offence if:

(a)
the acquirers acquire any shares in the Exchange, or enter into a relevant agreement to acquire shares in the Exchange; and

(b)
the acquisition has the result that:

(i)
a person who was not previously entitled to more than 5% of the voting shares in the Exchange becomes entitled to more than 5% of the voting shares in the Exchange; or
(ii)
a person who was previously entitled to more than 5% of the voting shares in the Exchange becomes entitled to a greater percentage of the voting shares in the Exchange; and
(c)
the acquirers knew the acquisition would have that result, or were reckless as to whether the acquisition would have that result.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback