Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 12 Matters relating to voting shares

(1)

If the associate reference relates to:

(a)

the extent of a power to exercise, or to control the exercise of, the voting power attached to voting shares in a body corporate;

(b)

the primary person's voting power in a body corporate; or

(c)

a takeover bid for securities in a body corporate;

it includes a reference to a person with whom the primary person has, or proposes to enter into, a relevant agreement:

(d)

because of which one of those persons has or will have power (even if it is in any way qualified):

(i)

to exercise;

(ii)

to control, directly or indirectly, the exercise of; or

(iii)

to influence substantially the exercise of;

any voting power attached to shares in the body;

(e)

for the purpose of controlling or influencing:

(i)

the composition of the body's board; or

(ii)

the conduct of affairs of the body;

(f)

under which one of those persons:

(i)

will or may acquire; or

(ii)

may be required by the other to acquire;

shares in the body in which the other has a relevant interest; or

(g)

under which one of those persons may be required to dispose of shares in the body in accordance with the other's directions;

whatever other effect the relevant agreement may have.

(2)

In relation to a matter relating to shares in a body corporate, a person may be an associate of the body and the body may be an associate of a person.