NTIn ForceAct
Totalisator Licensing and Regulation Act 2000
110Person not to have prohibited shareholding interest
Start here
Get a plain-English read of 110
Turn the raw legal text into a practical explanation grounded in Totalisator Licensing and Regulation Act 2000.
110 Person not to have prohibited shareholding interest (1) A person must not have a prohibited shareholding interest. (2) A person must not act to acquire a prohibited shareholding interest. (3) If the shares of a person who is found guilty of an offence against subsection (1) or (2) are forfeited to the Territory under Division 3, the forfeiture of the shares is in addition to any penalty imposed on the person. Maximum penalty: 1 000 penalty units.