Interest and significant interest in landholders—pt 3.2
83 Interest and significant interest in landholders—pt 3.2
For this part, a person has an interest in a landholder if the person has an entitlement (otherwise than as a creditor or other person to whom the landholder is liable) to a distribution of property from the landholder on a winding-up of the landholder or otherwise.
A person who, under subsection (1), has an interest in a landholder has a significant interest in the landholder if the person, in the event of a distribution of all the property of the landholder immediately after the interest was acquired, would be entitled to at least 50% of the property distributed.
In this section:
person includes an entity.
Note Entity—see s 78A.
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