Commonwealth Consolidated Acts Commonwealth Consolidated ActsAn unacceptable control situation exists in relation to:
(a) a licensed trustee company and in relation to a particular person; or
(b) a proposed licensed trustee company and in relation to a particular person;
if the person's voting power in the company is more than:
(c) 15%; or
(d) if an approval of a higher percentage is in force under Division 2 in relation to the company and in relation to the person--that higher percentage.