ITA Clarification 21 - Propriety - Fit and proper testing (Sections 7.2.3.2 and 7.2.3.3)

The Commission would like to clarify that a Bidder need not submit information or vetting forms relating to intermediate entities between a Significant Shareholder and that Significant Shareholder’s ultimate parent company.

For the avoidance of doubt, in section 7.2.3.2 item 1, the Commission requires information relating to the following parties:

all 3% Shareholders of the Bidder;all Significant Shareholders of each 3% Shareholder; andthe ultimate parent company of each Significant Shareholder.p. Issue date: 1 November 2006