Western Australian Current Acts Western Australian Current Acts (1) A person who is or
intends to become the holder of a relevant interest in more than 10% of the
voting shares of an approved company may apply for a probity approval notice.
(2) The application
must be made to the Commission in a form approved by the Commission.
(3) The applicant must
provide the Commission with any information that the Commission reasonably
requires when dealing with the application.
(4) The Commission may
make any investigations it considers necessary or desirable for the purposes
of dealing with the application.
(5) Without limiting
the matters that the Commission may investigate under subsection (4) the
Commission may investigate any matter it considers necessary or desirable to
inform itself of the reputation and financial status of the applicant.
(6) The Commission may
require an applicant to pay the reasonable costs of the Commission’s
investigations in connection with dealing with the application.
(7) The Commission may
issue the applicant with a probity approval notice if it is satisfied that the
applicant is a suitable person to hold a relevant interest in more than 10% of
the voting shares of an approved company.
(8) The Commission may
refuse to issue a probity approval notice if the applicant has not provided
information required under subsection (3) or has not paid the costs required
under subsection (6).
(9) If the Commission
issues a probity approval notice it must promptly give the approved company a
copy of the notice.
[Section 14 inserted: No. 51 of 2003 s. 7.]