4Associated entities

4 Associated entities

(1)  In respect of a director, each of the following persons is an associated entity if the director or a relative of the director has control over the person:

(a) a body corporate;

(b) a partnership or other unincorporated association of persons;

(c) a majority of trustees of a trust.

(2)  For the purposes of determining whether the director has control over a person referred to in subregulation (1) , the following matters may be taken into account:

(a) whether the director or his or her relative is a shareholder in, a director or other officer of or a trustee of that person;

(b) whether the director or his or her relative is a beneficiary in the trust of which that person is a trustee;

(c) any other matter or relationship that is relevant.

(3)  For the purposes of determining whether the relative of a director has control over a person referred to in subregulation (1) , the following matters may be taken into account:

(a) whether the relative or his or her relative is a shareholder in, a director or other officer of or a trustee of that person;

(b) whether the relative or his or her relative is a beneficiary in the trust of which that person is a trustee;

(c) any other matter or relationship that is relevant.