Commonwealth Consolidated Acts

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 12C

                   Where:

                     (a)  a person holds a substantial interest, or 2 or more persons hold an aggregate substantial interest, (including a substantial interest held by that person, or an aggregate substantial interest held by those persons, by another application or other applications of this subsection) in a corporation or a trust estate (which corporation or the trustee of which trust estate is in this section called the first level entity ); and

                     (b)  the first level entity:

                              (i)  is in a position to control all or any of the voting power or potential voting power, or holds interests in all or any of the shares, in a corporation (in this section called the second level corporation ); or

                             (ii)  holds an interest in a trust estate (in this section called the second level trust estate );

the following provisions have effect for the purposes of this Act:

                     (c)  where subparagraph (b)(i) applies--the person or those persons together shall be taken to be in a position to control so much of the voting power or potential voting power of the second level corporation as the first level entity is in a position to control or to hold the interests in the shares in the second level corporation that the first level entity holds, as the case may be;

                     (d)  where subparagraph (b)(ii) applies--the person or those persons together shall be taken to hold the interest in the second level trust estate that the first level entity holds.