s 26B Control of acquisition of designated postal licensee
26B.—(1) A designated postal licensee must give written notice, in the prescribed manner and within the prescribed period, to the Postal Authority on the occasion when a person, whether by a series of transactions over a period of time or otherwise —(a) first acquires 5% or more but less than 12% of the voting shares in the designated postal licensee; or (b) first controls 5% or more but less than 12% of the voting power in the designated postal licensee.[34/2007] (2) Subject to subsection (4), a person must not, whether through a series of transactions over a period of time or otherwise, become a 12% controller or a 30% controller of a designated postal licensee without obtaining the prior written approval of the Postal Authority in the prescribed manner and within the prescribed period.[34/2007] (3) A person must not enter into any other transaction that constitutes a consolidation with a designated postal licensee without obtaining the prior written approval of the Postal Authority in the prescribed manner and within the prescribed period.[34/2007] (4) To the extent that the holding of any shares or control of any voting power in a designated postal licensee under subsection (2) constitutes a consolidation with that designated postal licensee, the person and the designated postal licensee must, in addition to the approval required under that subsection, obtain the prior written approval of the Postal Authority in the prescribed manner and within the prescribed period.[34/2007]