88ZMChange in beneficial ownership of permission holder that is a company

#### 88ZM Change in beneficial ownership of permission holder that is a company (1) A permission holder that is a company must notify the Authority in writing if there is a change in the beneficial ownership of the company (the changed company) after the permission has been granted. > Note: It is an offence under regulation 88ZX not to notify the Authority of the change. (2) The notice must be: (a) in a form approved by the Authority; and (b) given to the Authority within 20 business days after the change occurs. (3) For subregulation (1), a change in the beneficial ownership of a company occurs when: (a) there is a change in the persons (whether individuals or bodies corporate) holding an interest in 50% or more of the total voting shares of the company; or (b) the company becomes a subsidiary of another company.