Application for approval to exceed 15% voting power limit
(1) A person may apply for approval to have voting power of more than 15% in a particular licensed trustee company or proposed licensed trustee company by lodging with ASIC an application that: (a) specifies the percentage of voting power (if any) the person currently has in the company; and (b) specifies the percentage of voting power the person is seeking approval to have in the company; and (c) sets out the person’s reasons for making the application. Note: For fees in respect of lodging applications, see Part 9.10. (2) ASIC must give the application to the Minister as soon as possible.
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.
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