10Meaning of unacceptable shareholding situation

10 Meaning of unacceptable shareholding situation

For the purposes of this Act, an unacceptable shareholding situation exists in relation to a particular financial sector company and in relation to a particular person if the person holds a stake in the company of more than: (a) 20%; or (b) if an approval of a higher percentage is in force under Division 3 in relation to the company and in relation to the person—that higher percentage.

Note: A person’s stake includes the interests of the person’s associates—see Schedule 1.