Commonwealth Consolidated Acts Commonwealth Consolidated ActsIn this Part, unless the contrary intention appears:
"asset" means property of any kind, and includes:
(a) any legal or equitable estate or interest (whether present or future, vested or contingent, tangible or intangible) in real or personal property of any description; and
(b) any chose in action; and
(c) any right, interest or claim of any kind in or in relation to property (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing); and
(d) any asset within the meaning of Part IIIA of the Income Tax Assessment Act 1936 ; and
(e) a CGT asset within the meaning of the Income Tax Assessment Act 1997.
"authorised person" means the Minister or a person authorised, in writing, by the Minister for the purposes of this definition.
"charge" means a charge created in any way, and includes a mortgage and an agreement to give or execute a charge or mortgage (whether on demand or otherwise).
"debenture" has the same meaning as in Division 7 of Part IV of the Companies Act 1981 .
"holder" , in relation to a charge, includes a person in whose favour a charge is to be given or executed (whether on demand or otherwise) under an agreement.
"income tax" means tax the liability to which arises under the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997 .
"instrument" means an instrument of any kind, and includes:
(a) any contract, deed, undertaking or agreement;
(b) any mandate, instruction, notice, authority or order;
(c) any lease, licence, transfer, conveyance or other assurance;
(d) any guarantee, bond, power of attorney, bill of lading, negotiable instrument or order for the payment of money; and
(e) any mortgage, charge, lien or security;
whether express or implied and whether made or given orally or in writing.
"instrument to which this Part applies" means an instrument:
(a) to which the Corporation is a party;
(b) that was given to, by or in favour of the Corporation;
(c) in which a reference is made to the Corporation; or
(d) under which any money is or may become payable, or any other property is to be, or may become liable to be, transferred, conveyed or assigned, to or by the Corporation.
"interest" , in relation to land, means:
(a) a legal or equitable estate or interest in the land; or
(b) a right, power or privilege over, or in relation to, the land.
"joint instrument" means an instrument to which a determination under paragraph 29C(1)(e) applies.
"liability" means a liability of any kind, and includes an obligation of any kind (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).
"nominated staff member" means a person to whom a determination under section 29S applies.
"non-reimbursable liability" means a liability to which a determination under paragraph 29C(1)(c) applies.
"non-transferring asset" means an asset to which a determination under paragraph 29C(1)(a) applies.
"non-transferring instrument" means an instrument to which a determination under paragraph 29C(1)(d) applies.
"non-transferring liability" means a liability to which a determination under paragraph 29C(1)(b) applies.
"proceeding to which this Part applies" means a proceeding to which the Corporation is a party, other than a proceeding that does not relate to the transferred business.
"re-organisation day" means the day fixed under section 29D.
"share" means a share in the share capital of a company, and includes stock.
"special non-transferring asset" means a non-transferring asset arising under an instrument that relates to or evidences a non-transferring liability (other than a non-reimbursable liability).
"staff member" means a person who is an officer or employee of the Corporation.
(a) the nomination of the receiving subsidiary under section 29B;
(b) the making of determinations under section 29C;
(c) business of the Corporation ceasing, under this Part, to be business of the Corporation and becoming business of the receiving subsidiary;
(d) the making of payments, and the entering into of agreements, for the purposes of section 29L;
(e) the issue of shares under section 29N;
(f) the operation of this Part (other than Division 6) in any other respect; and
(g) giving effect to a matter referred to in another paragraph of this definition or otherwise giving effect to this Part (other than Division 6).
"transfer day" , in relation to a nominated staff member, means the day applicable to the staff member in the determination under section 29S that is applicable to the staff member.
"transferred asset" means an asset that becomes, under this Part, an asset of the receiving subsidiary.
"transferred business" means the business that becomes, under this Part, business of the receiving subsidiary, and includes the transferred assets and transferred liabilities.
"transferred liability" means a liability that becomes, under this Part, a liability of the receiving subsidiary.
"transferred staff member" means a staff member who, under this Part, becomes employed by the receiving subsidiary.
"wholly-owned subsidiary" , in relation to the Corporation, means a body corporate:
(a) that is a subsidiary of the Corporation;
(b) none of whose members is a person other than:
(i) the Corporation;
(ii) a body corporate that is, under any other applications of this definition, a wholly‑owned subsidiary of the Corporation; or
(iii) a nominee of the Corporation or of a body of the kind referred to in subparagraph (ii); and
(c) no share in which is beneficially owned by a person other than:
(i) the Corporation; or
(ii) a body of the kind referred to in subparagraph (b)(ii).
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