Commonwealth Numbered Acts

COMPANIES AND SECURITIES LEGISLATION AMENDMENT ACT 1986 No. 68 of 1986 - SECT 14

14. Section 136 of the Principal Act is amended by adding at the end the
following sub-sections:

"(10) For the purposes of this Division, a notifiable change in the
entitlement of a person to shares in a company shall be taken to occur if, and
only if, there occurs a change in the relevant interest or relevant interests
of the person, or in the relevant interest or relevant interests of an
associate of the person, in voting shares in the company.

"(11) For the purposes of sub-section (10), but without limiting the
generality of that sub-section, where a person acquires, or disposes of,
voting shares in a company, a change in the relevant interest or relevant
interests of the person in voting shares in the company shall be deemed to
occur.

"(12) For the purposes of this Division-

   (a)  a person who becomes required to give a notice under sub-section 137
        (1) shall be taken to have become, at the time when the person became
        a substantial shareholder in the company, required to give a
        substantial shareholding notice to the company;

   (b)  a person who becomes required to give a notice under sub-section 138
        (1) of this Act as in force after the commencement of Part III of the
        Companies and Securities Legislation Amendment Act 1986 shall be taken
        to have become, immediately after the change referred to in paragraph
        138 (1) (a) of this Act as so in force, required to give a substantial
        shareholding notice to the company; and

   (c)  a person who became required to give a notice under sub-section 138
        (1) of this Act as in force at any time before the commencement of
        that Part shall be taken to have become, immediately after the change
        first referred to in that sub-section as so in force, required to give
        a substantial shareholding notice to the company.".