Associated entities
4 Associated entities
In respect of a director, each of the following persons is an associated entity if the director or a relative of the director has control over the person:a body corporate; a partnership or other unincorporated association of persons; a majority of trustees of a trust.
For the purposes of determining whether the director has control over a person referred to in subregulation (1), the following matters may be taken into account:whether the director or his or her relative is a shareholder in, a director or other officer of or a trustee of that person; whether the director or his or her relative is a beneficiary in the trust of which that person is a trustee; any other matter or relationship that is relevant.
For the purposes of determining whether the relative of a director has control over a person referred to in subregulation (1), the following matters may be taken into account:whether the relative or his or her relative is a shareholder in, a director or other officer of or a trustee of that person; whether the relative or his or her relative is a beneficiary in the trust of which that person is a trustee; any other matter or relationship that is relevant.
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