Positions of authority in body corporate prescribed (Act s. 3(4)(d))
5B Positions of authority in body corporate prescribed (Act s. 3(4)(d))
This regulation has effect for the purposes of section 3(4)(d).
A person occupies a position of authority in a body corporate that is a proprietary company (the relevant body corporate) if the person is —
an ultimate holding company (as defined in the Commonwealth Corporations Act 2001 section 9) in relation to the relevant body corporate; or
a director of the ultimate holding company; or
if the ultimate holding company is a proprietary company, a director of or shareholder in the ultimate holding company.
A person occupies a position of authority in a body corporate that is a proprietary company (the relevant body corporate) if —
the person is —
a director of a body corporate; or
a director of or shareholder in a body corporate that is a proprietary company;
and
the body corporate referred to in paragraph (a)(i) or (ii) is a shareholder in the relevant body corporate.
If —
a person occupies a position of authority in a body corporate that is a proprietary company (the relevant body corporate) —
by the operation of this regulation (including by the operation of this subregulation); and
because the person is a shareholder in another body corporate;
and
the person is a body corporate,
a person who is —
a director of the body corporate referred to in paragraph (b); or
if that body corporate is a proprietary company, a director of or shareholder in that body corporate,
occupies a position of authority in the relevant body corporate.
[Regulation 5B inserted: Gazette 1 May 2007 p. 1865‑6.]
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