(1) A person, other than a person listed in the Schedule, shall not after the commencement of this Act, hold more than 20% of the issued voting shares of the Company.
(2) A person listed in the Schedule, who at the commencement of this Act, holds more than 20% of the total issued voting shares of the Company, may retain all or some of those issued voting shares but shall not acquire any additional issued voting shares of the Company unless the total of the issued voting shares retained and the issued voting shares acquired is 20% or less of the total issued voting shares of the Company.
(3) The directors of the Company shall refuse to issue or to register a transfer of any share to any person if the total number of shares held by or on behalf of that person exceeds or would exceed 20% of the total issued shares of the Company.
(4) Where a person fails to comply with subsection (1), (2) or (3) the transfer or disposition of shares shall be void.
(5) The Minister may by order in the Gazette amend the Schedule.