Queen's Wharf Brisbane Regulation 2016 (Qld)

Queen's Wharf Brisbane Regulation 2016

Part 1 Preliminary

1 Short title This regulation may be cited as the Queen's Wharf Brisbane Regulation 2016.

2 Commencement This regulation commences on 27 May 2016.

3 Interpretation (1) In this regulation— control has the meaning given by section 50AA of the Corporations Act. notice requirement percentage, in relation to voting interests in a relevant entity held by a person, means— (a) the lower percentage amount mentioned in section 6(1)(a) or (b); or (b) the percentage amount mentioned in section 6(1)(c). (2) Words and expressions used in chapter 4 of the Act have the same meaning in this regulation as they have in chapter 4 of the Act.

Part 2 Interests in relevant entities

Division 1 Notice requirements— Act , s 27

4 Application of division This division prescribes notice requirements under section 27 of the Act in relation to voting interests in the following relevant entities— (a) the licensee or IR Holdco; (b) any other relevant entity that is a trustee of the IR Holding Trust or IR Operating Trust; (c) the IR Holding Trust or IR Operating Trust.

5 Provision for associates (1) For this division, the voting interests in a relevant entity held by a person include voting interests in the relevant entity on issue that are held by an associate of the person. (2) However, persons are not associates of each other only because they are parties to an interestholder document within the meaning of the casino agreement. Note— See clause 1.1 of the casino agreement for the definition interestholder documents.

6 Notice requirement—holder of voting interests (1) This section applies if a person is aware the total number of voting interests in a relevant entity held by the person is— (a) more than 5% but not more than 10% of the total number of voting interests on issue; or (b) more than 10% but not more than 20% of the total number of voting interests on issue; or (c) more than 20% of the total number of voting interests on issue. (2) The person must, within the period mentioned in subsection (3), give the relevant entity written notice in the approved form of the person's voting interests in the entity. Maximum penalty—10 penalty units. (3) For subsection (2), the period is 5 business days after the day the person first becomes aware that the total number of voting interests in the relevant entity held by the person exceeds the notice requirement percentage. (4) If the person holds voting interests in more than 1 relevant entity mentioned in section 4, the person must comply with subsection (2) in relation to each of the entities. Note— See also division 2 in relation to exemptions from the requirement to comply with this provision.