Commonwealth Consolidated Acts Commonwealth Consolidated ActsIf:
(a) a person, or 2 or more persons under an arrangement, acquire shares in a body corporate; and
(b) the acquisition has the result, in relation to a licensed trustee company, that:
(i) an unacceptable control situation comes into existence in relation to the trustee company and in relation to a person; or
(ii) if an unacceptable control situation already exists in relation to the trustee company and in relation to a person--there is an increase in the voting power of the person in the trustee company;
the person or persons mentioned in paragraph (a) contravene this section.
Note: A contravention of this section is an offence (see subsection 1311(1)).