(1) A person is a substantial security holder in a public issuer for the purposes of this Act if that person has a substantial holding in that public issuer.
(2) A person has a substantial holding in a public issuer for the purposes of this Act if that person has a relevant interest in listed voting securities that comprise 5% or more of a class of listed voting securities of the public issuer.
(3) A person has a separate substantial holding for the purposes of this Act for each class in respect of which the person has a substantial holding under subsection (2).
(4) The percentage of securities that a person has in a class, for the purposes of this subpart, is calculated as follows:
if—
number held is the number of securities, in that class, in which the person has a relevant interest
total is the total number of securities in that class.
Section 21: substituted, on 29 February 2008, by section 11 of the Securities Markets Amendment Act 2006 (2006 No 47).