Commonwealth Consolidated Acts

INSURANCE ACQUISITIONS AND TAKEOVERS ACT 1991 - SECT 14

             (1)  A particular type of associate‑inclusive control interest that a person holds in a company at a particular time is the aggregate of:

                     (a)  the direct control interests in the company of that type that the person holds at that time; and

                     (b)  the direct control interests in the company of that type held at that time by associates of the person.

             (2)  In calculating the associate‑inclusive control interest that a person holds in a company, a direct control interest held because of subsection 15(5) is not to be counted under paragraph (1)(a) to the extent to which it is calculated by reference to a direct control interest in the company that is taken into account under paragraph (1)(b).