Management and Investment Companies Act 1983
31Prohibition
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31 Prohibition
(1) A licensee shall not, except as authorized by or under this Part, acquire or hold prescribed interests in business entities or otherwise invest assets of the licensee. (2) A licensee shall not acquire or hold interests in any shares in an eligible business entity that is a company if those shares have been issued or allotted previously to any other person. (3) Subsection (2) does not apply in relation to shares in the eligible business entity that have been, or are to be, acquired by the licensee if the Board is satisfied that the money spent in acquiring those shares has increased, or will increase, the value of the eligible business entity.