Why 5 per cent? Is it a bit low?
SECTION 62.
Question proposed: "That section 62 stand part of the Bill."
5 per cent of a quoted public company is a significant enough shareholding and has been recognised as such for a long time in other jurisdictions. Apart from the requirements of the law it is a requirement of stock exchanges worldwide that disclosure be made where there is a holding of 5 per cent in a publicly quoted company.
Question put and agreed to.
Section 63 agreed to.