Trustee Companies Act 1964 Regulation relating to share acquisitions (1995-684) [GG No 143 of 24.11.1995] (NSW)

1995—No. 684

TRUSTEE COMPANIES ACT 1964—REGULATION

(Relating to share acquisitons)

NEW SOUTH WALES

[Published in Gazette No. 143 of 24 November 1995]

HIS Excellency the Governor, with the advice of the Executive Council, and in pursuance of the Trustee Companies Act 1964, has been pleased to make the Regulation set forth hereunder.

J. W. Shaw,

Attorney General.

The Trustee Companies Regulation 1994 is amended:

(a)

by re-numbering clauses 7 and 8 as clauses 8 and 9 and by Share acquisitions

7. (1) An application referred to in section 31A (3) (c) of the Act (application for the approval of the Minister to the acquisition of shares in a trustee company) is to be made in writing.
(2) A notice referred to in section 31A (5) of the Act (notice to the Minister of the acquisition of shares in a trustee company) is to be in writing in the form set out in Schedule 1 and signed by the person or persons who acquired the shares to which the notice relates.

(b) by inserting at the end of Schedule 2 the following form:

Form 2

(Cl. 7)

NOTICE OF ACQUISITION OF SHARES IN A TRUSTEE

COMPANY

To the Minister administering the Trustee Companies Act 1964, Notice is given for the purposes of section 31A (5) of the Act of the acquisition of shares in a trustee company, as follows:

1995—No. 684

Name of trustee company:	..........................................
Name of person or persons

who acquired shares:	..........................................
...........................................

Percentage entitlement of the person or persons to shares in the company before the acquisition:	...........................................
Percentage entitlement of the person or persons to shares in the company after the acquisition:	............................................
Name of person or persons

from whom shares 
acquired:  ............................................

Date shares acquired: ............................................

Signed (by the person or persons who acquired the shares)	............................................
Date of this notice:	..........................................

EXPLANATORY NOTE

The objects of this Regulation are:

(a) to require an application to the Minister under section 31A (3) (c) of the Trustee Companies Act 1964 to be made in writing (the application is for the approval of the Minister to the acquisition of shares in a trustee company that

would take a person’s shareholding in the company to over 20%); and

(b) to prescribe a form of notice for the purposes of section 31A (5) of the Act (the notice is a notice to the Minister of the acquisition of shares in a trustee company above the general 10% limit on single shareholdings in trustee companies).

The Regulation is made under the Trustee Companies Act 1964, including sections

31A and 37 (the general regulation making power).