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CORPORATIONS ACT 2001 - SECT 64B Entities connected with a corporation

CORPORATIONS ACT 2001 - SECT 64B

Entities connected with a corporation

Body corporate

  (1)   A body corporate is connected with a corporation if, and only if, the corporation:

  (a)   can control, or influence materially, the body's activities or internal affairs; or

  (b)   is a member of the body; or

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

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

  (e)   is financially interested in the body's success or failure or apparent success or failure; or

  (f)   is owed a debt by the body; or

  (g)   is engaged by the body under a contract for services; or

  (h)   acts as agent for the body in any transaction or dealing.

Natural person

  (2)   A natural person is connected with a corporation if, and only if, the corporation:

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

  (b)   is engaged by the person under a contract for services; or

  (c)   acts as agent for the person in any transaction or dealing; or

  (d)   is an attorney of the person under a power of attorney; or

  (e)   has appointed the person as the corporation's attorney under a power of attorney; or

  (f)   is given financial, business or legal advice by the person in the performance of the functions attaching to the person's professional capacity.

Partnership

  (3)   A partnership is connected with a corporation if, and only if, the corporation:

  (a)   is a partner in the partnership; or

  (b)   can control, or influence materially, the partnership's activities or internal affairs; or

  (c)   is financially interested in the partnership's success or failure or apparent success or failure; or

  (d)   is a creditor of the partnership; or

  (e)   is engaged by the partnership under a contract for services; or

  (f)   acts as agent for the partnership in any transaction or dealing.

Trust

  (4)   A trust is connected with a corporation if, and only if, the corporation:

  (a)   is the settlor, or one of the settlors, of the trust; or

  (b)   has power under the terms of the trust to appoint or remove a trustee of the trust or to vary, or cause to be varied, any of the terms of the trust; or

  (c)   is a trustee of the trust; or

  (d)   can control, or influence materially, the activities of the trust; or

  (e)   is capable of benefiting under the trust; or

  (f)   is a creditor of the trustee of the trust; or

  (g)   is engaged by the trustee of the trust under a contract for services; or

  (h)   acts as agent for the trustee of the trust in any transaction or dealing.

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