Foreign Acquisitions and Takeovers Regulation 2015
16Meaning of direct interest in an entity or business
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16 Meaning of direct interest in an entity or business
For the definition of direct interest in section 4 of the Act, a direct interest in an entity or business is: (a) an interest of at least 10% in the entity or business; or (b) an interest of at least 5% in the entity or business if the person who acquires the interest has entered a legal arrangement relating to the businesses of the person and the entity or business; or (c) an interest of any percentage in the entity or business if the person who acquired the interest is in a position: (i) to influence or participate in the central management and control of the entity or business; or (ii) to influence, participate in or determine the policy of the entity or business.
Note: Section 16A of the Act defines interest of a specified percentage in a business. Section 17 of the Act defines interest of a specified percentage in an entity.