Associates
7 Associates
In this section —
executive officer, in relation to a body (whether incorporated or not), means —
a director, secretary or member of the committee of management of the body (by whatever name called); or
any other person who is concerned with, or takes part in, the management of the body, whether or not the person’s position is given the name of executive officer;
relative, in relation to an individual, means —
the spouse or de facto partner of the individual; or
a parent, son, daughter, brother or sister of the individual; or
a parent, son, daughter, brother or sister of the spouse or de facto partner of the individual;
relevant financial interest, in relation to a wagering business, means —
any share, whether held directly or indirectly, in the capital of the business; or
any entitlement, whether held directly or indirectly, to receive any income derived from the business; or
any entitlement, whether held directly or indirectly, to receive any payment as a result of money advanced;
relevant power means any power, whether exercisable by voting or otherwise, whether exercisable alone or in association with others and whether held directly or indirectly —
to participate in any directorial, managerial, or executive decision; or
to elect or appoint any person as an executive officer.
In this Part, an associate of a wagering licensee or an applicant for a wagering licence is a person, other than a key employee, who is any of the following —
a person who —
holds or will hold any relevant financial interest, or is or will be entitled to exercise any relevant power (whether in right of the person or on behalf of any other person) in the wagering business of the licensee or applicant; and
by virtue of that interest or power, is able or will be able to exercise a significant influence over or with respect to the management or operation of that business;
a person who is or will be an executive officer, whether in right of the person or on behalf of any other person, of —
the licensee or applicant; or
any other body involved in the wagering business of the licensee or applicant;
if the licensee or applicant is an individual, a person who is a relative of the licensee or applicant.
[Section 7 inserted: No. 21 of 2019 s. 47.]
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