273EMeaning of “corporate group”

#### 273E Meaning of “corporate group” 273E Meaning of “corporate group” > > (1) For the purposes of this Part, a corporate group consists of a parent corporation and its subsidiaries. > > > (2) A corporation is the parent corporation of another corporation (which is the subsidiary of the first corporation) if the first corporation, directly or indirectly— > > > > > (a) holds at least 90% of the securities of the other corporation, and > > > > > (b) holds voting control over the other corporation. > > > (3) The first corporation holds voting control over the other corporation if the first corporation has the ability to cast, or control the casting of, at least 90% of the maximum number of votes that may be cast at a general meeting of that corporation (other than votes to which a person is entitled under the provisions of a debenture or trust deed securing the issue of a debenture). > > > (3A) A requirement under the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth for a resolution to be passed by a sub-fund of a CCIV must be disregarded for the purposes of assessing whether the sub-fund has voting control over another sub-fund of the CCIV. > > > (4) The corporate group for a corporation, all of the securities of which are stapled to the securities of one or more other corporations, includes all of those other corporations and their subsidiaries. > > > (5) A transaction between— > > > > > (a) the trustee of a corporation that is a unit trust scheme, acting as trustee of the scheme, and > > > > > (b) another corporation that is a member of the same corporate group as the unit trust scheme (including, if that other corporation is a unit trust scheme, a trustee acting as trustee of that scheme), > > > > is taken, for the purposes of a corporate reconstruction transaction, to be a transaction between the corporations as members of the same group. > > > (5A) A reference in subsection (5) to a trustee includes— > > > > > (a) for a trustee of a unit trust scheme that is a managed investment scheme—a reference to a custodian of the trustee of the scheme acting as the custodian, or > > > > > (b) for a CCIV that is taken to be a trustee of a unit trust scheme because of section 5A—a reference to a custodian of the CCIV acting as the custodian. > > > (6) A corporation is not a member of a corporate group for the purposes of a corporate reconstruction transaction if the corporation is acting in the capacity of trustee of— > > > > > (a) a unit trust scheme that is not a member of the same corporate group as the other party to the transaction, or > > > > > (b) a discretionary trust, or > > > > > (c) a trust (not being a unit trust scheme) for any person who is not a member of the corporate group. > > **s 273E:** Ins 2012 No 20, Sch 1 \[18\]. Am 2016 No 14, Sch 1 \[9\]; 2024 No 90, Sch 1\[11\] \[12\].