33Prohibited shareholding interest

33 Prohibited shareholding interest

33 Prohibited shareholding interest

(1) A person has a prohibited shareholding interest in a licensee if the person is entitled to voting shares in the licensee that together constitute more than 10% of the total number of voting shares in the licensee.

(2) For the purposes of this Division, a licensee or a subsidiary of a licensee cannot have a prohibited shareholding interest in the licensee.

(3) A person must not have a prohibited shareholding interest in a licensee. A person who contravenes this subsection is guilty of an offence.

Maximum penalty—100 penalty units.

s 33: Am 1997 No 151, Sch 2 [15]; 2002 No 84, Sch 1.1.