6Meaning of associate

#### 6 Meaning of associate (1) Each of the following persons is an associate of a person: (a) any relative of the person; (b) any person with whom the person is acting, or proposes to act, in concert in relation to an action to which this Act may apply; (c) any person with whom the person carries on a business in partnership; (d) any entity of which the person is a senior officer; (e) if the person is an entity: (i) any holding entity of the entity; or (ii) any senior officer of the entity; (f) any entity whose senior officers are accustomed or under an obligation (whether formal or informal) to act in accordance with the directions, instructions or wishes of: (i) the person; or (ii) if the person is an entity—the senior officers of the person; (g) an entity if the person is accustomed or under an obligation (whether formal or informal) to act in accordance with the directions, instructions or wishes of: (i) the entity; or (ii) the senior officers of the entity; (h) any corporation in which the person holds a substantial interest; (i) if the person is a corporation—a person who holds a substantial interest in the corporation; (j) the trustee of a trust in which the person holds a substantial interest; (k) if the person is the trustee of a trust—a person who holds a substantial interest in the trust; (l) if the person is a foreign government, a separate government entity or a foreign government investor in relation to a foreign country (or a part of a foreign country): (i) any other person that is a foreign government in relation to that country (or any part of that country); or (ii) any other person that is a separate government entity in relation to that country (or any part of that country); or (iii) any other foreign government investor in relation to that country (or any part of that country). > Note: A person may be taken to be an associate under section 79. Additional associates in relation to interests in residential land (2) For an action taken relating to an interest in residential land (within the meaning of any of the paragraphs of subsection 12(1)), each of the following persons is also an associate of a person: (a) an entity that is not listed for quotation in the official list of a stock exchange if a relative of the person: (i) holds a substantial interest in the entity; or (ii) is a senior officer of the entity; (b) if the person is an entity (the first entity)—another entity (the second entity) if: (i) an individual holds a substantial interest in the first entity or is a senior officer of the first entity; and (ii) a relative of the individual holds a substantial interest in the second entity or is a senior officer of the second entity; and (iii) the first entity and the second entity are not, and are not a subsidiary or trustee of an entity, listed for quotation in the official list of a stock exchange. Persons who are not associates (3) Despite subsections (1) and (2), a person is not an associate of another person merely because: (a) one gives advice to the other, or acts on the other’s behalf, in the proper performance of the functions attaching to a professional capacity or a business relationship; or (b) one, a client, gives specific instructions to the other, whose ordinary business includes dealing in financial products (within the meaning of Division 3 of Part 7.1 of the Corporations Act 2001), to acquire financial products on the client’s behalf in the ordinary course of that business; or (c) one had sent, or proposes to send, to the other an offer under a takeover bid (within the meaning of that Act) for securities held by the other; or (d) one has appointed the other, otherwise than for valuable consideration (within the ordinary meaning of the term) given by the other or by an associate of the other, to vote as a proxy or representative; or (e) both of the following apply: (i) one provides independent services as a trustee of a trust to the other who is a beneficiary of the trust; (ii) the trustee is licensed to provide those services under a law of the Commonwealth, a State, a Territory, a foreign country or a part of a foreign country; or (f) one holds a substantial interest in a registered scheme (within the meaning of the Corporations Act 2001) and the other is the responsible entity of the scheme (within the meaning of that Act); or (fa) one holds a substantial interest in a notified foreign passport fund (within the meaning of the Corporations Act 2001) and the other is the operator of the fund (within the meaning of that Act); or (g) both are partners of one of the following kinds of partnerships: (i) a partnership of actuaries or accountants; (ii) a partnership of medical practitioners; (iii) a partnership of patent attorneys; (iv) a partnership of sharebrokers or stockbrokers; (v) a partnership of trade mark attorneys; (vi) a partnership that has as its primary purpose collaborative scientific research, and includes at least one university and one private sector participant (whether or not it also includes government agencies or publicly funded research bodies); (vii) a partnership of architects; (viii) a partnership of pharmaceutical chemists or veterinary surgeons; (ix) a partnership of legal practitioners; or (h) both of the following apply: (i) both are partners of a limited partnership; (ii) at least one of them is a limited partner that is not in a position (whether alone or together with one or more persons who are, or would apart from this paragraph be, that partner’s associates) to participate in the management and control of the partnership, or of any of the general partners of the partnership, in relation to any matter.