Acquisition of shares
A person contravenes this section if: (a) the person acquires, or the person with one or more other persons under an arrangement acquire, shares in a body corporate; and (b) the acquisition has the result that: (i) an unacceptable control situation comes into existence in relation to a controlled Australian financial body and a person; or (ii) if an unacceptable control situation already exists in relation to a controlled Australian financial body and a person (the controller)—there is an increase in the voting power of the controller in the controlled Australian financial body. Note 1: The person mentioned in subparagraph (b)(i) or (b)(ii) need not be the person who contravenes this section. Note 2: A contravention of this section is an offence (see subsection 1311(1)).
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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