Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 850C

Acquisitions of shares

    If:

  (a)   a person, or 2 or more persons under an arrangement, acquire shares in a body corporate; and

  (b)   the acquisition has the result, in relation to a widely held market body, that:

  (i)   an unacceptable control situation comes into existence in relation to the body and in relation to a person; or

  (ii)   if an unacceptable control situation already exists in relation to the body and in relation to a person--there is an increase in the voting power of the person in the body;

the person or persons mentioned in paragraph   (a) contravene this section.

Note:   A contravention of this section is an offence (see subsection   1311(1)).


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