Northern Territory Consolidated Acts

STAMP DUTY ACT - SECT 56NA

(1) A linked entity of a corporation is a person who is part of a chain of persons:

(a) that includes the corporation; and

(b) that is comprised of one or more links; and

(c) in which a link exists if a person, whether alone or together with other linked entities, would be entitled to receive at least 20% of the unencumbered value of the property of another person in the chain (the property-holder ).

(2) For subsection (1)(c), a person's entitlement at a particular time is determined in the following way:

(a) if the property-holder is a corporation - as an entitlement to participate as a shareholder in the distribution of the property on a winding-up of the corporation, at that time, calculated in accordance with section 56C(6);

(b) if the property-holder is a trustee of a trust - as an entitlement on the distribution of the trust, at that time, determined in accordance with section 56C(7).