sec.61Who is a related person

### sec.61 Who is a related person A person is a related person of another person if— for individuals—they are members of the same family; or for an individual and a corporation—the person or a member of the person’s family is a majority shareholder, director or secretary of the corporation or a related body corporate of the corporation, or has an interest of 50% or more in it; or for an individual and a trustee—the person or a related person under another provision of this section is a beneficiary of the trust; or for corporations—they are related bodies corporate; or for a corporation and a trustee—the corporation or a related person under another provision of this section is a beneficiary of the trust; or for trustees— there is a person who is a beneficiary of both trusts; or a person is beneficiary of 1 trust and a related person under another provision of this section is a beneficiary of the other trust. Also, a person is a related person of another person if the persons acquire trust interests in a land holding trust and the acquisitions form, evidence, give effect to or arise from what is substantially 1 arrangement. However, a person is not a related person of another person under subsection (1) , other than subsection (1) (d) , if the commissioner is satisfied the trust interests of the persons in a land holding trust— were acquired, and will be used, independently; and were not acquired, and will not be used, for a common purpose. s 61 amd 2002 No. 65 s 10 ; 2011 No. 20 s 60 (sec.61-ssec.1) A person is a related person of another person if— for individuals—they are members of the same family; or for an individual and a corporation—the person or a member of the person’s family is a majority shareholder, director or secretary of the corporation or a related body corporate of the corporation, or has an interest of 50% or more in it; or for an individual and a trustee—the person or a related person under another provision of this section is a beneficiary of the trust; or for corporations—they are related bodies corporate; or for a corporation and a trustee—the corporation or a related person under another provision of this section is a beneficiary of the trust; or for trustees— there is a person who is a beneficiary of both trusts; or a person is beneficiary of 1 trust and a related person under another provision of this section is a beneficiary of the other trust. (sec.61-ssec.2) Also, a person is a related person of another person if the persons acquire trust interests in a land holding trust and the acquisitions form, evidence, give effect to or arise from what is substantially 1 arrangement. (sec.61-ssec.3) However, a person is not a related person of another person under subsection (1) , other than subsection (1) (d) , if the commissioner is satisfied the trust interests of the persons in a land holding trust— were acquired, and will be used, independently; and were not acquired, and will not be used, for a common purpose. - (a) for individuals—they are members of the same family; or - (b) for an individual and a corporation—the person or a member of the person’s family is a majority shareholder, director or secretary of the corporation or a related body corporate of the corporation, or has an interest of 50% or more in it; or - (c) for an individual and a trustee—the person or a related person under another provision of this section is a beneficiary of the trust; or - (d) for corporations—they are related bodies corporate; or - (e) for a corporation and a trustee—the corporation or a related person under another provision of this section is a beneficiary of the trust; or - (f) for trustees— (i) there is a person who is a beneficiary of both trusts; or (ii) a person is beneficiary of 1 trust and a related person under another provision of this section is a beneficiary of the other trust. - (i) there is a person who is a beneficiary of both trusts; or - (ii) a person is beneficiary of 1 trust and a related person under another provision of this section is a beneficiary of the other trust. - (i) there is a person who is a beneficiary of both trusts; or - (ii) a person is beneficiary of 1 trust and a related person under another provision of this section is a beneficiary of the other trust. - (a) were acquired, and will be used, independently; and - (b) were not acquired, and will not be used, for a common purpose.