Duties Act 1999

For this Act, an associated person means a person who is associated with another person in accordance with any of the following:

people are associated people if they are related people;

individuals are associated people if they are partners in a partnership to which the Partnership Act 1963 applies;

private companies are associated people if—

any majority shareholder, or a related person of the shareholder, is a majority shareholder of each company; or

there are minority shareholders common to each company who, if their interests in each company were aggregated, would be a majority shareholder of each company;

trustees of trusts are associated people if any person is a beneficiary common to the trusts (not including a public unit trust scheme);

a private company and a trustee of a trust are associated people if a related body corporate of the company is a beneficiary of the trust (not including a public unit trust scheme).

Also, a person (person A) is an associated person of another person (person B) if, under subsection (1)—

person A is an associated person of another person (person C); and

person B is also an associated person of person C.

In this section:

individuals are related people if—

they are partners, or they have been partners and the partnership has ended (whether in Australia or elsewhere); or

the relationship between them is that of parent and child, brothers, sisters, or brother and sister;

private companies are related people if they are related bodies corporate;

an individual and a private company are related people if the individual is a majority shareholder or director of the company or of another private company that is a related body corporate of the company;

an individual and a trustee of a trust are related people if the individual is a beneficiary of the trust (other than a public unit trust scheme);

a private company and a trustee of a trust are related people if the company, or a majority shareholder or director of the company, is a beneficiary of the trust (other than a public unit trust scheme).