Meaning of associate
8B Meaning of associate
Each of the following persons is an associate of a person:
any relative of the person;
any person with whom the person is acting, or proposes to act, in concert in relation to an asset;
any person with whom the person carries on a business in partnership;
any corporate entity of which the person is a senior officer;
if the person is a corporate entity:
any holding entity of the corporate entity; or
any senior officer of the corporate entity;
any corporate entity whose senior officers are accustomed or under an obligation (whether formal or informal) to act in accordance with the directions, instructions or wishes of:
the person; or
if the person is a corporate entity—the senior officers of the person;
a corporate entity if the person is accustomed or under an obligation (whether formal or informal) to act in accordance with the directions, instructions or wishes of:
the corporate entity; or
the senior officers of the corporate entity;
any body corporate in which the person holds an interest;
if the person is a body corporate—a person who holds an interest in the body corporate;
the trustee of a trust in which the person holds an interest;
if the person is the trustee of a trust—a person who holds an interest in the trust;
any other person or body prescribed by the rules.
This Act’s bill:Explanatory memorandumSecond reading speech
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