Commonwealth Numbered Acts

FINANCIAL SECTOR (SHAREHOLDINGS) ACT 1998No. 55, 1998 - SECT 11

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

(b) the acquisition has the result, in relation to a financial sector company, that:

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

(ii) if an unacceptable shareholding situation already exists in relation to the company and in relation to a person--there is an increase in the stake held by the person in the company; and

(c) the person or persons mentioned in paragraph (a) were reckless as to whether the acquisition would have that result;

Note: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.