111Prohibited shareholding interest

111 Prohibited shareholding interest (1) A person has a prohibited shareholding interest in a licensee if the person has an interest that entitles the person to exercise or influence or control the exercise of the right to vote attached to the number of voting shares in the licensee that together constitute more than the prescribed percentage of the total number of voting shares in the licensee. (2) The percentage prescribed under subsection (1) is to be less than 20%. (3) The Regulations may: (a) prescribe an interest or a class of interests that give rise to prohibited shareholding interest; (b) prescribe the manner in which to establish whether a person has a prohibited shareholding interest; (c) prescribe the percentage under subsection (1) in relation to a person or a class of persons; and (d) exempt a person or a class of persons from compliance with (4) An exemption under subsection (3)(d) may be subject to conditions.

Totalisator Licensing and Regulation Act 2000 55