Totalizator Agency Board Privatisation Act 1997
38Prohibited shareholding interest
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38 Prohibited shareholding interest
38 Prohibited shareholding interest
(1) A person has a prohibited shareholding interest in TAB Limited if the person is entitled to voting shares in TAB Limited that together constitute more than 10% of the total number of voting shares in TAB Limited.
(2) For the purposes of this Division, TAB Limited or a TAB Limited subsidiary cannot have a prohibited shareholding interest in TAB Limited.
(3) A person must not have a prohibited shareholding interest in TAB Limited. A person who contravenes this subsection is guilty of an offence.
Maximum penalty—100 penalty units.
s 38: Am 1997 No 151, Sch 1 [11]; 2002 No 84, Sch 1.2 [2].