Commonwealth Consolidated Acts

FINANCIAL SECTOR (SHAREHOLDINGS) ACT 1998 - SECT 3

                   In this Act, unless the contrary intention appears:

100% subsidiary has the same meaning as in the Income Tax Assessment Act 1997 .

"agreement" means any agreement, whether formal or informal and whether express or implied.

"Australia" , when used in a geographical sense, includes the external Territories.

"authorised deposit-taking institution" has the same meaning as in the Banking Act 1959 .

"authorised insurance company" means:

                     (a)  a company authorised under the Insurance Act 1973 to carry on insurance business; or

                     (b)  a company registered under the Life Insurance Act 1995 .

"company" means a body corporate.

"Federal Court" means the Federal Court of Australia.

"financial sector company" means:

                     (a)  an authorised deposit‑taking institution; or

                     (b)  an authorised insurance company; or

                     (c)  a holding company of a company covered by paragraph (a) or (b).

"holding company" has the meaning given by section 4.

"scheme" means:

                     (a)  any agreement, arrangement, understanding, promise or undertaking, whether express or implied and whether or not enforceable, or intended to be enforceable, by legal proceedings; and

                     (b)  any scheme, plan, proposal, action, course of action or course of conduct, whether unilateral or otherwise.

"unacceptable shareholding situation" has the meaning given by section 10.

Note:          Schedule 1 sets out definitions of expressions used in Part 2 (which deals with restrictions on shareholdings).