Associates
68 Associates
An associate of a general partner includes any of the following:
anyone who has an interest in the general partner;
(b) anyone to whom the general partner has delegated a power or function in relation to a partnership in which the general partner is a general partner;
(c) if the general partner or a person covered by paragraph (a) or (b) is a corporation – a related body corporate of the corporation;
(d) a director, officer, employee, agent, representative or security holder of the general partner or of a person covered by paragraph (a), (b) or (c).
An associate of a limited partner includes any of the following:
anyone who has an interest in the limited partner;
(b) if the limited partner or a person covered by paragraph (a) is a corporation – a related body corporate of that corporation;
(c) a director, officer, employee, agent, representative or security holder of the limited partner or a person covered by paragraph (a), or (b).
An associate of an incorporated limited partnership includes:
an entity in which the partnership has an interest; and
a related body corporate of that entity.
In this section:
interest, in a partner or partnership, includes an interest as a security holder, trustee, responsible entity, manager, custodian, subcustodian, nominee, administrator, executor or legal personal representative.
partner, includes, if that partner is another partnership, a partner in that other partnership.
related body corporate has the same meaning as in section 9 of the Corporations Act 2001.
securities has the same meaning as in section 92(3) of the Corporations Act 2001.
security holder, in relation to a body, includes a holder of securities in or of the body.
This Act’s bill:Second reading speech
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