3AMeaning of “close associate”

#### 3A Meaning of “close associate” 3A Meaning of “close associate” > > (1) In this Act, a close associate, of a casino operator or an applicant for a casino licence, means— > > > > > (a) a related body corporate of the casino operator or applicant, or > > > > > (b) a person who holds an interest of 10% or more of the share capital in— > > > > > > > (i) the casino operator or applicant, or > > > > > > > (ii) a related body corporate of the casino operator or applicant, or > > > > > (c) a director or officer of— > > > > > > > (i) the casino operator, or > > > > > > > (ii) a related body corporate of the casino operator or applicant, or > > > > > > > (iii) a person who holds an interest of 10% or more of the share capital in— > > > > > > > > > (A) the casino operator or applicant, or > > > > > > > > > (B) a related body corporate of the casino operator or applicant, or > > > > > (d) a person who— > > > > > > > (i) holds or will hold a relevant financial interest, or is or will be entitled to exercise relevant power, whether in the person’s own right or on behalf of another person, in the casino operator’s or applicant’s business that is or will be carried on under the authority of the licence, and > > > > > > > (ii) because of that interest or power is or will be able, in the NICC’s opinion, to exercise a significant influence over or in relation to the management or operation of the business, or > > > > > (e) a person who holds or will hold a relevant position, whether in the person’s own right or on behalf of another person, in the casino operator’s or applicant’s business that is or will be carried on under the authority of the licence. > > > (2) For this section, a financial institution is not a close associate by reason only of having a relevant financial interest in relation to a business. > > > (3) In this section— > > > > officer, of a related body corporate, has the same meaning as in the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth. > > > > relevant financial interest, in relation to a business, means— > > > > > (a) a share in the capital of the business, or > > > > > (b) an entitlement to receive income derived from the business or to receive another financial benefit or financial advantage from the carrying on of the business, whether the entitlement arises at law, in equity or otherwise, or > > > > > (c) an entitlement to receive rent, profit or other income in connection with the use or occupation of premises on which the business of the casino is carried on. > > > > relevant position means— > > > > > (a) the position of director, manager or secretary, or > > > > > (b) another position, however designated, if it is an executive position. > > > > relevant power means any power, whether exercisable by voting or otherwise and whether exercisable alone or in association with others— > > > > > (a) to participate in a directorial, managerial or executive decision, or > > > > > (b) to elect or appoint a person to a relevant position. > > **s 3A:** Ins 2022 No 36, Sch 1\[3\].