Definitions
Aggregation of interests
An entity has an aggregate interest in a corporation if:
(a) the entity has a direct interest and 1 or more indirect interests in the corporation, or
(b) the entity has more than 1 indirect interest in the corporation.
Agreement/arrangement/undertaking
An agreement, arrangement or undertaking, whether formal or informal, whether expressed or implied, and whether or not the agreement, arrangement or undertaking includes provisions in respect of the supply of goods or services.
Associated person
(a) related persons
(b) natural persons if they are partners in a partnership
(c) private companies if common shareholders have a majority interest in each private company
(d) trustees if any person is a beneficiary common to the trusts of which they are trustees
(e) a private company and a trustee if a related body corporate of the company (within the meaning of the Corporations Act 2001 of the Commonwealth) is a beneficiary of the trust of which the trustee is a trustee.
Business
(a) a profession or trade
(b) any other activity carried on for fee, gain or reward
(c) the activity of employing 1 or more persons who perform duties in connection with another business
(d) the carrying on of a trust (including a dormant trust)
(e) the activity of holding any money or property used for or in connection with another business
(f) whether carried on by 1 person or 2 or more persons together
Controlling interest
An interest of more than 50%.
Direct interest
An entity has a direct interest in a corporation if:
(a) in the case of an entity that is a person - the person can, directly or indirectly, exercise, control the exercise of, or substantially influence the exercise of, the voting power attached to any voting shares issued by the corporation, or
(b) in the case of an entity that is 2 or more persons who are associated persons - each of the associated persons can, directly or indirectly, exercise, control the exercise of, or substantially influence the exercise of, the voting power attached to any voting shares issued by the corporation.
Entity
A person or 2 or more associated persons.
Indirect interest
An entity has an indirect interest in a corporation if the corporation is linked to another corporation (the directly controlled corporation) in which the entity has a direct interest.
A corporation is linked to a directly controlled corporation if the corporation is part of a chain of corporations:
(a) that starts with the directly controlled corporation, and
(b) in which a link in the chain is formed if a corporation has a direct interest in the next corporation in the chain.
Person
Natural person, trustee or corporate entity.
Related person
(a) natural persons if:
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(i) one is the spouse or domestic partner of the other, or
(ii) the relationship between them is that of parent and child, brothers, sisters, or brother and sister
(b) private companies if they are related bodies corporate within the meaning of the Corporations Act 2001 of the Commonwealth
(c) a natural person and a private company if the natural person is a majority shareholder or director of the company or of another private company that is a related body corporate of the company within the meaning of the Corporations Act 2001 of the Commonwealth
(d) a natural person and a trustee if the natural person is a beneficiary of the trust of which the trustee is a trustee
(e) a private company and a trustee if the company, or a majority shareholder or director of the company, is a beneficiary of the trust of which the trustee is a trustee.
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