Part of what I was trying to say is that while there are...

Part of what I was trying to say is that while there are regulations making it unlawful to acquire more than 20% of the shares in a listed company unless such acquisition is followed by a takeover offer, people can and often do exceed the 20% without making a takeover offer. In such circumstances, ASIC will become involved and if no takeover offer is forthcoming will normally require the party owning more than 20% to sell the excess shares in short time. People can, and often do that which is prohibited by regulation.