sec.11Exemption from requirements about convertible securities

### sec.11 Exemption from requirements about convertible securities A person (an exempt person ) is exempt from the requirement to comply with section 22 of the Act in relation to convertible securities in a relevant entity if— the exempt person is a body corporate; and the exempt person does not have a relevant interest in any convertible securities in the relevant entity; and another person (a non-exempt person ) who is an associate of the exempt person— is a body corporate; and has a relevant interest in convertible securities in the relevant entity; and has obtained the required approval under section 22 of the Act ; and the non-exempt person is an associate of the exempt person only because the non-exempt person— controls the exempt person; or is controlled by another entity that controls the exempt person. - (a) the exempt person is a body corporate; and - (b) the exempt person does not have a relevant interest in any convertible securities in the relevant entity; and - (c) another person (a non-exempt person ) who is an associate of the exempt person— (i) is a body corporate; and (ii) has a relevant interest in convertible securities in the relevant entity; and (iii) has obtained the required approval under section 22 of the Act ; and - (i) is a body corporate; and - (ii) has a relevant interest in convertible securities in the relevant entity; and - (iii) has obtained the required approval under section 22 of the Act ; and - (d) the non-exempt person is an associate of the exempt person only because the non-exempt person— (i) controls the exempt person; or (ii) is controlled by another entity that controls the exempt person. - (i) controls the exempt person; or - (ii) is controlled by another entity that controls the exempt person. - (i) is a body corporate; and - (ii) has a relevant interest in convertible securities in the relevant entity; and - (iii) has obtained the required approval under section 22 of the Act ; and - (i) controls the exempt person; or - (ii) is controlled by another entity that controls the exempt person.