I guess you are referring to the following part of Sect 611 of...

I guess you are referring to the following part of Sect 611 of the Corporations Act. I have read it a few times but I don't understand how it applys as an exemption to the rule of not acquiring if you hold more than 20%. Part (a) says more than 19% but not more than 20% so I'm thinking it means you can not purchase a quantity of shares that will push you over 20% and give you an additional 3% voting power than you had 6 months prior.

The part I refer to is this - try and figure it out.

Manner of acquisition

3% creep in 6 months

9

An acquisition by a person if:

(a) throughout the 6 months before the acquisition that person, or any other person, has had voting power in the company of at least 19%; and

(b) as a result of the acquisition, none of the persons referred to in paragraph (a) would have voting power in the company more than 3 percentage points higher than they had 6 months before the acquisition.