sec.236What is a foreign corporation

### sec.236 What is a foreign corporation Each of the following is a foreign corporation — a corporation incorporated outside Australia; a corporation in which foreign persons have a controlling interest. A corporation is taken to be a corporation mentioned in subsection (1) (b) if, taking their interests together, 1 or more persons who are foreign persons or related persons of foreign persons— are in a position to control at least 50% of the voting power in the corporation; or are in a position to control at least 50% of the potential voting power in the corporation; or have an interest in at least 50% of the issued shares in the corporation. In this section— potential voting power see the Foreign Acquisitions and Takeovers Act 1975 (Cwlth) , section 22 . voting power see the Foreign Acquisitions and Takeovers Act 1975 (Cwlth) , section 22 . s 236 prev s 236 om 2005 No. 60 s 11 pres s 236 ins 2016 No. 37 s 9 (sec.236-ssec.1) Each of the following is a foreign corporation — a corporation incorporated outside Australia; a corporation in which foreign persons have a controlling interest. (sec.236-ssec.2) A corporation is taken to be a corporation mentioned in subsection (1) (b) if, taking their interests together, 1 or more persons who are foreign persons or related persons of foreign persons— are in a position to control at least 50% of the voting power in the corporation; or are in a position to control at least 50% of the potential voting power in the corporation; or have an interest in at least 50% of the issued shares in the corporation. (sec.236-ssec.3) In this section— potential voting power see the Foreign Acquisitions and Takeovers Act 1975 (Cwlth) , section 22 . voting power see the Foreign Acquisitions and Takeovers Act 1975 (Cwlth) , section 22 . - (a) a corporation incorporated outside Australia; - (b) a corporation in which foreign persons have a controlling interest. - (a) are in a position to control at least 50% of the voting power in the corporation; or - (b) are in a position to control at least 50% of the potential voting power in the corporation; or - (c) have an interest in at least 50% of the issued shares in the corporation.