41ACApplication for consent for change of control

1. An application for consent referred to in section 41AB(2) must—

2. be made—
   1. by the relevant person; or
   2. if there is more than 1 relevant person, by all of the relevant persons; and
3. be made at least 3 months before the date on which the proposed change of control takes effect; and
4. include the following information:
   1. the name of each relevant person:
   2. if a relevant person is a body corporate, the name of each director of the body and of each shareholder or member of the body referred to in subsection (4):
   3. particulars about how the change of control is proposed to be undertaken:
   4. particulars about when the change of control is proposed to take effect; and
5. be accompanied by—
   1. a copy of any agreement or other document that specifies the change of control; and
   2. information or documents that show how the test in section 41AE(1) is satisfied.

6. If the Minister is satisfied that there are compelling reasons why a relevant person could not comply with subsection (1)(b), the Minister may receive an application by a later date agreed by the Minister (which date must not be later than the date on which the proposed change of control takes effect).

7. The following applies if an application is properly made in accordance with this section (including subsection (1)(b) or (2)) but the application is still being considered by the Minister when the change of control takes effect:

8. section 41AB(2) is not contravened while the application is being considered by the Minister; and
9. if the Minister gives his or her consent, section 41AB(2) is not contravened; but
10. if the Minister declines to give his or her consent, section 41AB(2) must be treated as being contravened from the date of the Minister’s decision.

11. For the purposes of subsection (1)(c)(ii), the shareholders or members of the body corporate that must be named are,—

12. if the body has equity securities quoted on a stock exchange,—
    1. the shareholders or members who hold the 10 largest numbers of equity securities; or
    2. if there is more than 1 class of equity securities, the persons holding the 10 largest numbers of equity securities in each class:
13. in any other case, all of the shareholders or members.

14. In this section and sections 41AD and 41AE,—

    director has the same meaning as in section 6(1) of the Financial Markets Conduct Act 2013

    equity security has the same meaning as in section 8(2) of the Financial Markets Conduct Act 2013

    relevant person means a person who is,—

    1. in the case of a prospecting permit for petroleum or a permit for minerals other than petroleum, an incoming person; or
    2. in the case of an exploration or mining permit for petroleum, an incoming person or an outgoing person

    stock exchange has the same meaning as in section 2(1) of the Companies Act 1993.