All foreign governments and their related entities should notify...

All foreign governments and their related entities should notify the Government and get prior approval before making a direct investment in Australia, regardless of the value of the investment.

A Privately-Owned Foreign Investor should notify the Government before acquiring an interest of 15 per cent or more in an Australian business or corporation that is valued above A$231 million.

Notification requirements also apply where an acquisition by a foreign person would result in foreign persons holding an aggregate interest of 40 per cent or more in such Australian businesses or corporations.

Well, unless the initial approval was CONDITIONAL to NMCD staying under 50,01%, it seems that once the 40% is reached there is no subsequent need for any pre-aproval. Although I can be wrong as I am neither a lawyer nor a person conversant with the Foreign Foreign Acquisitions and Takeovers Act 1975.

However my interpretation makes sense as once an entity has 40% of a public listed company it has effective control over it as lots of small shareholders do not bother to vote.