Commonwealth Consolidated Acts

BANKRUPTCY ACT 1966 - SECT 5B

             (1)  For the purposes of this Act, a company is associated with a person if the person:

                     (a)  is a company officer of the company or otherwise is concerned, or takes part, in the company's management; or

                     (b)  is able to control, or to influence materially, the company's activities or internal affairs; or

                     (c)  is a member of the company; or

                     (d)  is in a position to cast, or to control the casting of, a vote at a general meeting of the company; or

                     (e)  has power to dispose of, or to exercise control over the disposal of, a share in the company; or

                      (f)  is financially interested in the company's success or failure or apparent success or failure; or

                     (g)  is owed a debt by the company; or

                     (h)  is employed, or is engaged under a contract for services, by the company; or

                      (j)  acts as agent for the company in any transaction or dealing; or

                     (k)  gives professional advice to the company.

             (2)  For the purposes of this Act, a company is also associated with a person if the company:

                     (a)  holds property jointly with the person; or

                     (b)  is dealing with the person's property as an agent for the person; or

                     (c)  is a trustee of a trust under which the person is capable of benefiting; or

                     (d)  acquires or disposes of property as a result of dealing with the person.

             (3)  The circumstances set out in subsections (1) and (2) are the only circumstances in which a company is associated with a person for the purposes of this Act.