Queensland Numbered Acts

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QUEEN'S WHARF BRISBANE ACT 2016 - SECT 22

Convertible securities

22 Convertible securities

(1) This section applies to convertible securities 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 convertible securities 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 convertible securities of the same class on issue; or
(b) more than 20% of the total number of convertible securities 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 convertible securities includes a relevant interest of an associate of the person in convertible securities of the same class, other than the convertible securities in which the person has a relevant interest.
(5) If a person has a relevant interest in convertible securities 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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