Commonwealth Numbered Acts

SECURITIES INDUSTRY ACT 1980 No. 66, 1980 - SECT 6

6. (1) A reference in this Act to a person associated with another person
shall be construed as a reference to-

   (a)  if the other person is a body corporate-

        (i)    a director or secretary of the body corporate;

        (ii)   a body corporate that is related to the other person; or

        (iii)  a director or secretary of such a related body corporate;

   (b)  where the matter to which the reference relates is the extent of a
        power to exercise, or to control the exercise of, the voting power
        attached to voting shares in a body corporate, a person with whom the
        other person has, or proposes to enter into, an agreement,
        arrangement, understanding or undertaking, whether formal or informal
        and whether express or implied-

        (i)    by reason of which either of those persons may exercise,
               directly or indirectly control the exercise of, or
               substantially influence the exercise of, any voting power
               attached to a share in the body corporate;

        (ii)   with a view to controlling or influencing the composition of
               the board of directors, or the conduct of affairs, of the body
               corporate; or

        (iii)  under which either of those persons may acquire from the other
               of them shares in the body corporate or may be required to
               dispose of such shares in accordance with the directions of the
               other of them;

   (c)  a person in concert with whom the other person is acting, or proposes
        to act, in relation to the matter to which the reference relates;

   (d)  where the matter to which the reference relates is a matter other than
        the extent of a power to exercise, or to control the exercise of, the
        voting power attached to voting shares in a body corporate-

        (i)    a person who carries on a business of dealing in securities in
               partnership with the other person;

        (ii)   subject to sub-section (2), a person who is a partner of the
               other person otherwise than by reason that he carries on a
               business of dealing in securities in partnership with the other
               person;

        (iii)  a trustee of a trust in relation to which the other person
               benefits or is capable of benefiting otherwise than by reason
               of transactions entered into in the ordinary course of business
               in connection with the lending of money;

        (iv)   a person who is a director of a body corporate that carries on
               a business of dealing in securities and of which the other
               person is also a director; or

        (v)    subject to sub-section (2), a person who is a director of a
               body corporate of which the other person is a director, not
               being a body corporate that carries on a business of dealing in
               securities;

   (e)  a person with whom the other person is, by virtue of the regulations,
        to be regarded as associated in respect of the matter to which the
        reference relates;

   (f)  a person with whom the other person is, or proposes to become,
        associated, whether formally or informally, in any other way in
        respect of the matter to which the reference relates; or

   (g)  if the other person has entered into, or proposes to enter into, a
        transaction, or has done, or proposes to do, any other act or thing,
        with a view to becoming associated with a person as mentioned in any
        of the preceding paragraphs-that last-mentioned person.

(2) Where, in proceedings under this Act, it is alleged that a person referred
to in sub-paragraph (1) (d) (ii) or (v) was associated with another person at
a particular time, that person shall be deemed not to have been so associated
in relation to a matter to which the proceedings relate unless the person
alleging the association proves that the first-mentioned person at that time
knew or ought reasonably to have known the material particulars of that
matter.

(3) For the purposes of this Act, where 2 or more persons constitute a dealer
or an investment adviser, a person is associated with the dealer or with the
investment adviser, as the case may be, if he is associated with either or any
of those persons.

(4) A person shall not be taken to be associated with another person by virtue
of paragraph (1) (b), (c), (e) or (f) by reason only that one of those persons
furnishes advice to, or acts on behalf of, the other person in a professional
capacity.