(1) A person is a
"related person" of another person if—
(a) for individuals—they are
members of the same family; or
(b) for an individual and a corporation—the
person or a member of the person’s family is a majority shareholder,
director or secretary of the corporation or a related body corporate of the
corporation, or has an interest of 50% or more in it; or
(c) for an
individual and a trustee—the person or a related person under another
provision of this section is a beneficiary of the trust; or
(d) for
corporations—they are related bodies corporate; or
(e) for a corporation
and a trustee—the corporation or a related person under another provision of
this section is a beneficiary of the trust; or
(f) for trustees—
(i) there
is a person who is a beneficiary of both trusts; or
(ii) a person is
beneficiary of 1 trust and a related person under another provision of this
section is a beneficiary of the other trust.
(2) Also, a person is a
"related person" of another person if the persons acquire interests in a
landholder and the acquisitions form, evidence, give effect to or arise from
what is substantially 1 arrangement.
(3) However, a person is not a
"related person" of another person under subsection (1) , other than
subsection (1) (d) , if the commissioner is satisfied the interests of the
persons—
(a) were acquired, and will be used, independently; and
(b) were
not acquired, and will not be used, for a common purpose.