Commonwealth Numbered Acts

FINANCIAL SECTOR (SHAREHOLDINGS) ACT 1998

TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARYýÜ

   1.      Short title 
   2.      Commencement 
   3.      Definitions 
   4.      Holding companies 
   5.      Crown to be bound 
   6.      External Territories 
   7.      Extra-territorial operation 

   PART 2--RESTRICTIONS ON SHAREHOLDINGS IN FINANCIAL SECTOR COMPANIES

   8.      Simplified outline 
   9.      Definitions in Schedule 1 
   10.     Meaning of unacceptable shareholding situation 
   11.     Acquisitions of shares 
   12.     Remedial orders 
   13.     Application for approval to exceed 15% shareholding limit 
   14.     Approval of application 
   15.     Duration of approval 
   16.     Conditions of approval 
   17.     Varying percentage stake approved 
   18.     Revoking an approval 
   19.     Flow-on approvals 
   20.     Further information about applications 
   21.     Electronic lodgment of applications 
   22.     Meaning of control 
   23.     Treasurer may declare person to have practical control of a financial 
   24.     Requirement to relinquish practical control or reduce stake 
   25.     Remedial orders 
   26.     Record-keeping and giving of information 
   27.     Provision to attract the corporations power, the banking power and the 
   28.     Concurrent operation of State/Territory laws 
   29.     Validity of acts done in contravention of this Part 
   30.     Acquisition of property 

   PART 3--ANTI-AVOIDANCE™

   31.     Anti-avoidance 

   PART 4--INJUNCTIONS

   32.     Injunctions 
   33.     Interim injunctions 
   34.     Discharge etc. of injunctions 
   35.     Certain limits on granting injunctions not to apply 
   36.     Other powers of the court unaffected 

   PART 5--OFFENCES

   37.     False or misleading statements 
   38.     Incorrect records 
   39.     Indictable offences 
   40.     Application of Criminal Code 
   41.     Service of summons or process on foreign corporations--criminal 

   PART 6--CIVIL LIABILITY

   42.     Civil liability of corporations 
   43.     Civil liability of persons other than corporations 

   PART 7--MISCELLANEOUS‰

   44.     Delegation by Treasurer 
   45.     Foreign Acquisitions and Takeovers Act 1975 and this Act to 
   46.     Regulations 
   47.      Transitional--pre-commencement stakes in financial sector 
           SCHEDULE 1--Ownership definitions