[no bill text published] New disclosure obligations and ASIC freezing powers for substantial security holdings
Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Bill 2025
1st House
2nd House
Law
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
ASIC can order a person to stop acquiring interests in securities; it can also stop them from voting.
People with substantial holdings must disclose their holding percentage; they must also disclose their derivative-based holding percentage.
Disclosers must provide specific information for each agreement when directed by ASIC.
People must provide specified information if ASIC makes a determination about their economic interests.
Disclosers must provide a certified true copy of a document within 7 days of a request.
The key person for a body must keep a register; ASIC can dictate the form and content of this register.
People who break substantial holding rules may have to pay compensation.
Criminal offence for breaching specific substantial holding rules.