Check whether a purchase fits the creep exception
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Using voting-power figures the lawyer supplies for today and for the date six months earlier, calculate the percentage-point difference and record whether the lawyer's figures show voting power of at least 19 per cent throughout those six months. Do not calculate voting power from the register.
- What the lawyer must review
- The lawyer calculates voting power, including associates, decides whether section 611 item 9 is available, and decides whether the purchase can proceed without another exception.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | Using voting-power figures the lawyer supplies for today and for the date six months earlier, calculate the percentage-point difference and record whether the lawyer's figures show voting power of at least 19 per cent throughout those six months. Do not calculate voting power from the register. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Require the lawyer's figure for voting power throughout the six months, not only on the first day. Item 9 asks whether a person had at least 19 per cent throughout that period.
- Test every person item 9(a) covers. None of them may finish more than 3 percentage points above the voting power they had six months before the acquisition.
- Do not treat the worksheet as a conclusion that item 9 applies. The lawyer signs off.
Sources
- Corporations Act 2001 (Cth) s 611 item 9 · 2026-10-22
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.