Queensland Numbered Acts

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QUEEN'S WHARF BRISBANE ACT 2016 - SECT 21

Non-voting interests

21 Non-voting interests

(1) This section applies to non-voting interests in—
(a) the licensee or IR Holdco; or
(b) any other relevant entity that is a trustee of the IR Holding Trust or IR Operating Trust; or
(c) the IR Holding Trust or IR Operating Trust.
(2) The total number of non-voting interests in which a person has a relevant interest must not, without the required approval, be—
(a) more than 10% but not more than 20% of the total number of interests of the same class on issue; or
(b) more than 20% of the total number of interests of the same class on issue.
(3) For subsection (2)(a) or (b), the required approval must be given by the Governor in Council.
(4) For this section, a person’s relevant interest in non-voting interests includes a relevant interest of an associate of the person in non-voting interests of the same class on issue, other than the non-voting interests in which the person has a relevant interest.
Example—
1 Person X has a relevant interest in 4% of a class of non-voting interests.
2 If person X’s associate has a relevant interest in a different 3% of the class of non-voting interests, person X’s relevant interest would be 7%.
3 However, if person X’s associate has a relevant interest in the same 4% of the class of non-voting interests as person X, then person X’s relevant interest would be 4%.
(5) If a person has a relevant interest in non-voting interests in more than 1 relevant entity mentioned in subsection (1), the person must comply with subsection (2) in relation to each of the entities



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