Northern Territory Consolidated Acts Northern Territory Consolidated Acts56Q. Interest and significant interest in corporation
(1) A person has an interest in a corporation if the person has or would have, on the winding up of the corporation, an entitlement as a shareholder to a distribution of the corporation's property.
(3) A person's interest in a corporation is the person's entitlement expressed as a percentage of the value of all of the corporation's property that would be distributed if the corporation were wound up immediately after the person acquires the interest.
(4) A person has a significant interest in a corporation if the person's entitlement, as mentioned in subsection (3), is:
(a) for a listed corporation or listed unit trust scheme:
(i) for a merger vesting of shares - 50% or more of all the property of the corporation or scheme; or
(ii) otherwise - 90% or more of all the property of the corporation or scheme; or
(b) for another corporation or unit trust scheme - 50% or more of all the property of the corporation or scheme.