ASIC regulations are...................my bold
RG 5.92
A person must provide a substantial holding notice if they:
(a) begin to have, or cease to have, a substantial holding in the listed entity;
(b) have a substantial holding in the listed entity and there is a movement of
at least 1% in their holding; or
(c) make a takeover bid for securities of the listed entity: s671B(1).
RG 5.93
A person has a substantial holding if they and their associates have (or would
have but for certain exceptions in s609) relevant interests in voting shares or
interests carrying 5% or more of the total votes attached to all voting shares
or interests: s9. There is movement of more than 1% if, using the same
formula, the percentage of votes has increased or decreased by this amount
from the percentage previously disclosed: s671B(2).
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