Definitions
10 Definitions
In this Schedule—
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 20.
arrangement has the meaning given by clause 11.
associate has the meaning given by clause 12.
company means a body corporate.
constituent document, in relation to a company, means—
the constitution of the company, or
any rules or other documents constituting the company or governing its activities.
contravene includes fail to comply with.
direct control interest has the meaning given by clause 19.
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.
engage in conduct means do an act or omit to do an act.
floated transaction company means a transaction company in relation to which the ownership restrictions set out in this Schedule apply.
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 15.
lender, in relation to a loan security, means the person who is entitled to enforce the security.
lending money includes providing non equity finance where the provision of the finance may reasonably be regarded as equivalent to lending money.
loan security means a security held solely for the purposes of a moneylending agreement.
Member Register of a company means a register of members of the company kept under Chapter 2C of the Corporations Act.
moneylending agreement means an agreement entered into in good faith in the ordinary course of carrying on a business of lending money, but does not include an agreement dealing with any matter unrelated to the carrying on of that business.
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.
power to appoint a director of a company has a meaning affected by clause 13.
relative, in relation to a person, means—
the person’s spouse or the person’s de facto partner (being the other party to a de facto relationship, within the meaning of the Property (Relationships) Act 1984, with the person), or
a parent or remoter lineal ancestor of the person, or
a child or remoter issue of the person, or
a sibling of the person.
share, in relation to a company, means a share in the share capital of the company, and includes an interest in such a share.
stake, in relation to a company, has the meaning given by clause 18.
substantial interest, in relation to a trust estate, has the meaning given by clause 20.
voting power has the meaning given by clause 17.
This Act’s bill:Explanatory memorandumSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.