In force2025 Revised Edition

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Electronic Transactions (Certification Authority) Regulations 2010 · 2025 Revised Edition · Part 5 · Conduct of Business by Accredited Certification Authorities

26. Change in management

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(1)

An accredited certification authority must notify the Controller within 5 days of any changes in —

(a)

the appointment of any person as a member of its board of directors, its chairperson or its chief executive, or their equivalent; or

(b)

any persons with a controlling interest in the certification authority.

(2)

For the purposes of paragraph (1)(b), a person has a controlling interest in a certification authority if —

(a)

that person has an interest in the voting shares of the certification authority and exercises control over the certification authority; or

(b)

that person has an interest in the voting shares of the certification authority of an aggregate of at least 30% of the total votes attached to all voting shares in the certification authority, unless that person does not exercise control over the certification authority.

(3)

The notification required in relation to paragraph (1)(b) must be in the form that the Controller may require and must include the following information:

(a)

the name of the person with a controlling interest;

(b)

the percentage of the voting shares in the certification authority acquired by that person.

Subregulation 1

An accredited certification authority must notify the Controller within 5 days of any changes in —

(a)

the appointment of any person as a member of its board of directors, its chairperson or its chief executive, or their equivalent; or

(b)

any persons with a controlling interest in the certification authority.

Subregulation 2

For the purposes of paragraph (1)(b), a person has a controlling interest in a certification authority if —

(a)

that person has an interest in the voting shares of the certification authority and exercises control over the certification authority; or

(b)

Subregulation 3

The notification required in relation to paragraph (1)(b) must be in the form that the Controller may require and must include the following information:

(a)

the name of the person with a controlling interest;

(b)

the percentage of the voting shares in the certification authority acquired by that person.

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Part 6