Definitions
2 Definitions
In Part 3 and this Schedule, unless the contrary intention appears:
acquisition includes an agreement to acquire, but does not include:
an acquisition by will or by devolution by operation of law; or
an acquisition by way of enforcement of a loan security.
aggregate substantial interest, in relation to a trust estate, has the meaning given by clause 13.
arrangement has the meaning given by clause 4.
associate has the meaning given by clause 5.
child: without limiting who is a child of a person for the purposes of Part 3 and this Schedule, someone is the child of a person if he or she is a child of the person within the meaning of the Family Law Act 1975.
constituent document, in relation to a company, means:
the memorandum and articles of association of the company; or
any rules or other documents constituting the company or governing its activities.
direct control interest has the meaning given by clause 12.
director includes any person occupying the position of director of a company, by whatever name called.
discretionary trust means a trust where:
a person (who may include the trustee) is empowered (either unconditionally or on the fulfilment of a condition) to exercise any power of appointment or other discretion; and
the exercise of the power or discretion, or the failure to exercise the power or discretion, has the effect of determining, to any extent, either or both of the following:
the identities of those who may benefit under the trust;
how beneficiaries are to benefit, as between themselves, under the trust.
foreign citizen means an individual who is not an Australian citizen.
foreign company means a company incorporated outside Australia.
foreign government body means:
a foreign State (within the meaning of the Foreign States Immunities Act 1985); or
a separate entity of such a foreign State (within the meaning of that Act).
foreign person means:
a foreign citizen not ordinarily resident in Australia; or
a foreign government body; or
a company where:
a foreign citizen not ordinarily resident in Australia; or
a foreign government body; or
a foreign company;
holds a particular type of stake in the company of not less than 15%; or
a company where a group of 2 or more persons, each of whom is:
a foreign citizen not ordinarily resident in Australia; or
a foreign government body; or
a foreign company;
holds, in total, a particular type of stake in the company of not less than 40%; or
the trustee of a trust estate in which:
a foreign citizen not ordinarily resident in Australia; or
a foreign government body; or
a foreign company;
holds a substantial interest; or
the trustee of a trust estate in which 2 or more persons, each of whom is:
a foreign citizen not ordinarily resident in Australia; or
a foreign government body; or
a foreign company;
hold an aggregate substantial interest.
group includes:
one person alone; or
a number of persons, even if they are not in any way associated with each other or acting together.
increase, in relation to a stake in a company, includes an increase from a starting point of nil.
interest in a share has the meaning given by clause 8.
officer, in relation to a company, includes:
a director, secretary or employee of the company; or
a receiver and manager of any part of the undertaking of the company appointed under a power contained in any instrument; or
a liquidator of the company appointed in a voluntary winding‑up.
ordinarily resident in Australia has the meaning given by clause 3.
ownership provisions means Part 3 and this Schedule.
parent: without limiting who is a parent of a person for the purposes of Part 3 and this Schedule, someone is the parent of a person if the person is his or her child because of the definition of child in this clause.
power to appoint a director of a company has a meaning affected by clause 6.
practical control, in relation to an airport‑operator company, has the meaning given by section 55.
relative, in relation to a person, means:
the person’s spouse; or
a de facto partner of the person within the meaning of the Acts Interpretation Act 1901; or
a parent or remoter lineal ancestor of the person; or
a child or remoter issue of the person; or
a brother or sister of the person.
See also subclause (2).
share, in relation to a company, means a share in the share capital of the company, and includes:
stock into which any or all of the share capital of the company has been converted; or
an interest in such a share or in such stock.
stake, in relation to a company, has the meaning given by clause 11.
substantial interest, in relation to a trust estate, has the meaning given by clause 13.
voting power has the meaning given by clause 10.
For the purposes of paragraphs (c), (d) and (e) of the definition of relative in subclause (1), if one person is the child of another person because of the definition of child in that subclause, relationships traced to or through the person are to be determined on the basis that the person is the child of the other person.
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