4AMeaning of associate

4A Meaning of associate

(1)  A person is an associate of another person if –

(a) he or she is a spouse, parent, brother, sister or child of the other person; or

(b) they are members of the same household; or

(c) they are partners; or

(d) 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

(e) one is a body corporate and the other is a director or member of the governing body of the body corporate; or

(f) one is a body corporate (other than a public company whose shares are listed on the stock exchange) and the other is a shareholder in the body corporate; or

(g) they are related bodies corporate within the meaning of the Corporations Act 2001 of the Commonwealth; or

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

(2)  For the purposes of subsection (1) , a beneficiary of a trust includes an object of a discretionary trust.