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CORPORATIONS ACT 2001 - SECT 671B

Information about substantial holdings must be given to company, responsible entity and relevant market operator

Requirement to give information

(1) A person must give the information referred to in subsection (3) to a listed company, or the responsible entity for a listed registered managed investment scheme, if:

(a) the person begins to have, or ceases to have, a substantial holding in the company or scheme; or

(b) the person has a substantial holding in the company or scheme and there is a movement of at least 1% in their holding; or

(c) the person makes a takeover bid for securities of the company or scheme.

The person must also give the information to each relevant market operator.


Deadline for giving information

(6) The person must give the information:

(a) within 2 business days after they become aware of the information; or

(b) by 9.30 am on the next trading day of the relevant financial market after they become aware of the information if:

(i) a takeover bid is made for voting shares in the company or voting interests in the scheme; and

(ii) the person becomes aware of the information during the bid period.


http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s671b.html