36YNotice to reduce relevant interest

36Y Notice to reduce relevant interest (1) The Commission may give written notice under this section to a person who has acquired a relevant interest referred to in section 36U(1) if— (a) the person acquired the relevant interest without the approval of the Commission referred to in section 36U(2); or (b) the person acquired the relevant interest in accordance with the approval of the Commission referred to in section 36U(2) but the Commission is satisfied that the person does not remain a suitable person to hold the relevant interest. (2) The notice may require the person to reduce the person's relevant interest to what it was before the acquisition to which the notice relates within the time specified in the notice or the other time as agreed with the Commission. (3) A person to whom a notice is given under this section must comply with the notice. Penalty: 480 penalty units. (4) On the application of the Commission, the Supreme Court may make any order it thinks appropriate to enforce compliance by a person with a notice under this section, including an order that a person dispose of shares or other securities within a specified time. S. 36Z inserted by No. 42/2022 s. 22.