Hi 42trader, I am not sure what you are trying to say, do you believe the corporations act doesn't cover individuals or groups dealing in corporations? If so I think you are mistaken
Anyway, here is an interesting article
"
Association
The fourth basic concept is known as 'association'.
Associates are broadly all persons who are acting together in relation to control of a company or managed investment scheme, including:
- entities in a single corporate group;
- persons acting, or proposing to act, in concert in relation to the affairs of the company or managed investment scheme; or
- persons who are party to an agreement for the purpose of controlling or influencing the board or the affairs of the company or managed investment scheme
The concept of association is used when calculating voting power and is one of the ways in which the 20% rule extends its application to not just a single person, but to groups of people acting together."
https://www.minterellison.com/articles/summary-of-australian-takeover-laws
My understanding is that both the substantial holder notice provisions and the takeover provisions utilise the same definitions, as such I am curious as to why no notice seems to have been lodged given the Section 249d notice was in relation to removal/Appointment of Directors.
Also I am very curious what the current percentage is, under the substantial holder provisions a notice is required for any movement in 1% increments
All just in my humble opinion though.
Thanks
(20min delay)