Meaning of close associate—div 14.4A
222D Meaning of close associate—div 14.4A
In this division:
close associate, of a property developer, means any of the following:
a related body corporate;
an officer of the corporation or a related body corporate;
a person whose voting power in the corporation or a related body corporate is more than 20%;
any domestic partner of a person mentioned in paragraph (b) or (c);
if the corporation or a related body corporate is a stapled entity in relation to a stapled security—the other stapled entity in relation to the stapled security;
if the corporation is a trustee, manager or responsible entity in relation to a trust—
for a unit trust—a person who holds more than 20% of the units in the trust; or
for a discretionary trust—a person who is a beneficiary of the trust;
any other person or body prescribed by regulation.
Power to make a regulation includes power to make different provision in relation to different matters or different classes of matters, and to make a regulation that applies differently by reference to stated exceptions or factors (see Legislation Act, s 48).
In this section:
officer—see the Corporations Act, section 9.
stapled entity—
means an entity the interests in which are traded along with the interests of another entity as a stapled security; and
for a stapled entity that is a trust—includes any trustee, manager or responsible entity for the trust.
voting power—see the Corporations Act, section 9.
This provision refers to the regulations (prescribed by regulation
, a regulation
). Made under this Act:
- Electoral Regulation 1993 · under s 341
This Act’s bill:Explanatory statement
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