Bankruptcy Act 1966

For the purposes of this Act, a company is associated with a person if the person:

is a company officer of the company or otherwise is concerned, or takes part, in the company’s management; or

is able to control, or to influence materially, the company’s activities or internal affairs; or

is a member of the company; or

is in a position to cast, or to control the casting of, a vote at a general meeting of the company; or

has power to dispose of, or to exercise control over the disposal of, a share in the company; or

is financially interested in the company’s success or failure or apparent success or failure; or

is owed a debt by the company; or

is employed, or is engaged under a contract for services, by the company; or

acts as agent for the company in any transaction or dealing; or

gives professional advice to the company.

For the purposes of this Act, a company is also associated with a person if the company:

holds property jointly with the person; or

is dealing with the person’s property as an agent for the person; or

is a trustee of a trust under which the person is capable of benefiting; or

acquires or disposes of property as a result of dealing with the person.

The circumstances set out in subsections (1) and (2) are the only circumstances in which a company is associated with a person for the purposes of this Act.