51ABIParties to acquisitions

51ABI Parties to acquisitions

(1) Each of the following is a party to an acquisition of shares in the capital of a body corporate, any assets of a person or a thing determined under subsection 51ABB(2):

(a) the person (a principal party to the acquisition) who acquires the shares, assets or determined thing;

(b) without limiting paragraph (a)—a person that is a party to a contract, arrangement or understanding pursuant to which the acquisition takes place.

(2) To avoid doubt, a reference to a party or principal party to an acquisition that has not been put into effect is a reference to a person that would be a party or principal party to the acquisition if the acquisition were put into effect.

(3) The target:

(a) of an acquisition of shares in the capital of a body corporate—is the body corporate; and

(b) of an acquisition of any assets of a person—is the person; and

(c) of an acquisition to which subparagraph 51ABB(1)(c) or (f) applies—is the person or entity determined under paragraph 51ABB(2)(b) for the purposes of this paragraph in relation to the acquisition.