Meaning of unacceptable control situation—licensed trustee company or a proposed licensed trustee company
An unacceptable control situation exists in relation to: (a) a licensed trustee company and in relation to a particular person; or (b) a proposed licensed trustee company and in relation to a particular person; if the person’s voting power in the company is more than: (c) 15%; or (d) if an approval of a higher percentage is in force under Division 2 in relation to the company and in relation to the person—that higher percentage.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.
Try BriefBridge free