Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies in relation to a person and a trustee company if, immediately before the commencement of Part 5D.5, the percentage (the pre - commencement percentage ) of the person's voting power in the trustee company exceeded 15%.
(2) Subject to subsection (3), Part 5D.5 applies in relation to the person and the trustee company as if paragraph 601VAA(a) specified the pre - commencement percentage (rather than 15%).
(3) If, after the commencement of Part 5D.5, the percentage of the person's voting power in the trustee company is reduced, the following provisions have effect from the time of the reduction:
(a) if the reduced percentage exceeds 15%--Part 5D.5 applies in relation to the person and the trustee company as if paragraph 601VAA(a) specified the reduced percentage (rather than 15%);
(b) if the reduced percentage is 15% or less--this section ceases to apply, and never again applies, in relation to the person and the trustee company.