QLDIn ForceRegulation
Gaming Machine Regulation 2002
sec.4Meaning of category 1 body corporate
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sec.4 Meaning of category 1 body corporate
A body corporate is a category 1 body corporate if— not more than 5% of its voting shares are held, directly or indirectly, by a person who is not ordinarily resident in Australia; and either— the body corporate is not related to another body corporate and its net tangible assets amount to less than $1,000,000; or the combined net tangible assets of the body corporate and all other bodies corporate related to it amount to less than $1,000,000.
- (a) not more than 5% of its voting shares are held, directly or indirectly, by a person who is not ordinarily resident in Australia; and
- (b) either— (i) the body corporate is not related to another body corporate and its net tangible assets amount to less than $1,000,000; or (ii) the combined net tangible assets of the body corporate and all other bodies corporate related to it amount to less than $1,000,000.
- (i) the body corporate is not related to another body corporate and its net tangible assets amount to less than $1,000,000; or
- (ii) the combined net tangible assets of the body corporate and all other bodies corporate related to it amount to less than $1,000,000.
- (i) the body corporate is not related to another body corporate and its net tangible assets amount to less than $1,000,000; or
- (ii) the combined net tangible assets of the body corporate and all other bodies corporate related to it amount to less than $1,000,000.