Banks (Shareholdings) Regulations (Amendment) (Cth)

Statutory

Rules1991No. 225 1

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Banks (Shareholdings) Regulations 2(Amendment)

  

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Banks (Shareholdings) Act 1972.

 

 Dated 3 July 1991.

  

  BILL HAYDEN

 Governor-General

 By His Excellency’s Command,

   

J. KERIN

Treasurer

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1.   Amendment

1.1   The Banks (Shareholdings) Regulations are amended as set out in these Regulations.

 

2.   Regulation 6 (Prescribed classes of persons and prescribed interests—paragraph 8 (9) (d) of the Act (certain underwriters))

2.1   After subregulation 6 (2), insert:

 

 “(2A) For the purposes of paragraph 8 (9) (d) of the Act:

• (a)

  persons who are underwriters in relation to the issue of shares by the Commonwealth Bank under its first registered prospectus constitute a prescribed class of persons; and

• (b)

  any interest:

   (i) that a person referred to in paragraph (a) has in voting shares of the Commonwealth Bank in the course of, or arising out of, underwriting that issue; and

   (ii) that, but for this subregulation, would have the effect that the person would have an interest in voting shares of the Commonwealth Bank in contravention of subsection 10A (3) of the Act;

   is a prescribed interest.”.

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NOTES

 

1. Notified in the Commonwealth of Australia Gazette on 3 July 1991.

 

2. Statutory Rules 1985 No. 67 as amended by 1985 Nos. 233, 263, 299, 311, 336, 337, 338 and 376; 1986 Nos. 10, 11, 12, 13, 21, 23, 24, 44, 92, 107 and 116; 1987 Nos. 26, 126, 127 and 208; 1988 Nos. 323 and 379; 1989 Nos. 4 and 64; 1990 Nos. 345 and 469; 1991 Nos. 21, 57, 92 and 120.