sec.4AAWho is an influential person for a company

### sec.4AA Who is an influential person for a company An influential person , for a company, is an individual, other than a director or secretary of the company, who is in a position to control or substantially influence the company’s conduct. However, an influential person does not include— a professional, only because the advice given by the professional influences the company’s conduct; or a regulator, only because the regulator, when exercising a power or performing a function under an Act or other law, influences the company’s business; or an administrator, controller, provisional liquidator or liquidator within the meaning of the Corporations Act , section 9 . Without limiting subsection (1) , a person may be an influential person for a company if the person— is the chief executive officer or general manager of the company, or holds an equivalent position in the company; or is acting in a position mentioned in paragraph (a) ; or directly or indirectly owns, holds or controls 50% or more of the shares in the company, or 50% or more of a class of shares in the company; or gives instructions to an officer of the company and the officer generally acts on those instructions; or makes, or participates in making, decisions that affect the whole or a substantial part of the company’s business or financial standing; or engages in conduct or makes representations that would cause someone else to reasonably believe the person controls, or substantially influences, the company’s business. In this section— professional — means a person who provides professional advice to more than 1 client; but does not include a person who provides professional advice to a client in the person’s capacity as an employee of the client. a lawyer or accountant, employed in that capacity by a firm of lawyers or accountants, engaged by a company to give the company advice on a particular topic regulator means— a person employed by a State, a local government or the Commonwealth; or a person engaged by a State, a local government or the Commonwealth to provide a particular service or carry out a particular activity; or an agent of a person mentioned in paragraph (b) if, in that capacity, the person provides the service or carries out the activity the person is engaged to provide or carry out. s 4AA prev s 4AA ins 2003 No. 1 s 4 om 2007 No. 47 s 4 pres s 4AA ins 2017 No. 43 s 252 (sec.4AA-ssec.1) An influential person , for a company, is an individual, other than a director or secretary of the company, who is in a position to control or substantially influence the company’s conduct. (sec.4AA-ssec.2) However, an influential person does not include— a professional, only because the advice given by the professional influences the company’s conduct; or a regulator, only because the regulator, when exercising a power or performing a function under an Act or other law, influences the company’s business; or an administrator, controller, provisional liquidator or liquidator within the meaning of the Corporations Act , section 9 . (sec.4AA-ssec.3) Without limiting subsection (1) , a person may be an influential person for a company if the person— is the chief executive officer or general manager of the company, or holds an equivalent position in the company; or is acting in a position mentioned in paragraph (a) ; or directly or indirectly owns, holds or controls 50% or more of the shares in the company, or 50% or more of a class of shares in the company; or gives instructions to an officer of the company and the officer generally acts on those instructions; or makes, or participates in making, decisions that affect the whole or a substantial part of the company’s business or financial standing; or engages in conduct or makes representations that would cause someone else to reasonably believe the person controls, or substantially influences, the company’s business. (sec.4AA-ssec.4) In this section— professional — means a person who provides professional advice to more than 1 client; but does not include a person who provides professional advice to a client in the person’s capacity as an employee of the client. a lawyer or accountant, employed in that capacity by a firm of lawyers or accountants, engaged by a company to give the company advice on a particular topic regulator means— a person employed by a State, a local government or the Commonwealth; or a person engaged by a State, a local government or the Commonwealth to provide a particular service or carry out a particular activity; or an agent of a person mentioned in paragraph (b) if, in that capacity, the person provides the service or carries out the activity the person is engaged to provide or carry out. - (a) a professional, only because the advice given by the professional influences the company’s conduct; or - (b) a regulator, only because the regulator, when exercising a power or performing a function under an Act or other law, influences the company’s business; or - (c) an administrator, controller, provisional liquidator or liquidator within the meaning of the Corporations Act , section 9 . - (a) is the chief executive officer or general manager of the company, or holds an equivalent position in the company; or - (b) is acting in a position mentioned in paragraph (a) ; or - (c) directly or indirectly owns, holds or controls 50% or more of the shares in the company, or 50% or more of a class of shares in the company; or - (d) gives instructions to an officer of the company and the officer generally acts on those instructions; or - (e) makes, or participates in making, decisions that affect the whole or a substantial part of the company’s business or financial standing; or - (f) engages in conduct or makes representations that would cause someone else to reasonably believe the person controls, or substantially influences, the company’s business. - (a) means a person who provides professional advice to more than 1 client; but - (b) does not include a person who provides professional advice to a client in the person’s capacity as an employee of the client. Example— a lawyer or accountant, employed in that capacity by a firm of lawyers or accountants, engaged by a company to give the company advice on a particular topic - (a) a person employed by a State, a local government or the Commonwealth; or - (b) a person engaged by a State, a local government or the Commonwealth to provide a particular service or carry out a particular activity; or - (c) an agent of a person mentioned in paragraph (b) if, in that capacity, the person provides the service or carries out the activity the person is engaged to provide or carry out.