Security of Critical Infrastructure Act 2018

An entity is in a position to directly or indirectly influence or control an asset if:

the entity is in a position to exercise voting or veto rights in relation to the body that governs the asset; or

the entity is in a position to make decisions that materially impact on the running of, or strategic direction in relation to, the asset; or

the entity has the ability to appoint:

persons to the body that governs the asset; or

key personnel involved in running the asset; or

the entity is in a position to influence or determine decisions relating to:

the business plan, or any other management plan, for the asset; or

major expenditure relating to the asset; or

major contracts or transactions involving the asset; or

major loans involving the asset.

For interests held by trusts, partnerships, superannuation funds and unincorporated foreign companies, see section 53A.

An entity (the controlling entity) is in a position to directly or indirectly influence or control another entity (the controlled entity) if the controlling entity:

is in a position to exercise voting or veto rights in relation to the controlled entity; or

is in a position to make decisions that materially impact on the running of, or strategic direction of, the controlled entity; or

has the ability to appoint persons to the board of the controlled entity; or

is in a position to influence or determine decisions relating to:

the business plan, or any other management plan, for the controlled entity; or

major expenditure relating to the controlled entity; or

major contracts or transactions involving the controlled entity; or

major loans involving the controlled entity; or

together with any associates of the controlling entity, holds an interest of at least 10% in the controlled entity (including if any of the interests are held jointly with one or more other entities).

This section does not limit when an entity is in a position to directly or indirectly influence or control an asset or other entity.