Securities and Futures Act 2001 · 2020 Revised Edition · Part 7 · Disclosure of Interests
137ZA. Duty of holders of voting shares in responsible person to notify responsible person
Feedback & supportLast amended by an amending law of 2009.
Where the percentage of interest of a person in the voting shares in a responsible person for a real estate investment trust reaches, crosses or falls below 15%, 30%, 50% or 75%, the person must give written notice to the responsible person within 2 business days after the person becomes aware of this.
responsible person
“responsible person”, in relation to a collective investment scheme, means —(a)in the case of a scheme that is constituted as a VCC or a sub‑fund — the VCC;(b)in the case of a scheme that is constituted as a corporation other than a VCC — the corporation; or(c)in the case of any other scheme — the manager for the scheme;
A notice under subsection (1) must be in such form and must contain such information as the Authority may prescribe.
In subsection (1), the percentage of interest of a person in the voting shares in a responsible person for a real estate investment trust is ascertained by expressing the total votes attached to all the voting shares in which the person has an interest or interests immediately before or (as the case may be) immediately after the relevant time, as a percentage of the total votes attached to —
real estate investment trust
“real estate investment trust”, except in Division 3 of Part 7, means a collective investment scheme —(a)that is authorised under section 286 or recognised under section 287;(b)that is a trust;(c)that invests primarily in real estate and real estate‑related assets specified by the Authority in the Code on Collective Investment Schemes; and(d)all or any units of which are listed for quotation on an approved exchange;
all the voting shares (excluding treasury shares) in the responsible person; or
where the share capital of the responsible person is divided into 2 or more classes of shares, all the voting shares (excluding treasury shares) in the class concerned,and, if it is not a whole number, rounding that figure down to the next whole number.