4Interpretation—meaning of “associate”

4 Interpretation—meaning of “associate”

4 Interpretation—meaning of “associate”

(1) This section applies for the purposes of this Act other than section 103 (Financial accommodation to directors and associates).

(2) A person is an associate of another, or is associated with another, if—

(a) they are partners, or

(b) one is a spouse, de facto partner, parent or child of the other, or

(c) they are both trustees or beneficiaries of the same trust, or one is a trustee and the other is a beneficiary of the same trust, or

(d) one is a body corporate or other entity (whether inside or outside Australia) and the other is a director or member of the governing body of the body or entity, or

(e) one is a body corporate or other entity (whether inside or outside Australia) and the other is a person who has a legal or equitable interest in 5% or more of the share capital of the body or entity, or

(f) they are related bodies corporate, or

(g) a relationship of a prescribed kind exists between them, or

(h) a chain of relationships can be traced between them under any one or more of the above paragraphs.

Note.

“De facto partner” is defined in section 21C of the Interpretation Act 1987.

s 4: Am 2008 No 23, Sch 3.14 [2]; 2010 No 19, Sch 3.24 [2].