COMMUNITY AMBULANCE COVER LEVY REPEAL AND REVENUE AND OTHER LEGISLATION AMENDMENT ACT 2011 No. 20 - SECT 69 69 Replacement of s 159 (What are interests and majority interests in a corporation)

COMMUNITY AMBULANCE COVER LEVY REPEAL AND REVENUE AND OTHER LEGISLATION AMENDMENT ACT 2011 No. 20 - SECT 69

Section 159—

omit, insert—

'(1) A person has an interest in a landholder if the person has an entitlement as a shareholder or unit holder to a distribution of the landholder's property—

(a) for a corporation—on its winding up; or

(b) for a listed unit trust—on its termination.

'(2) A person has a significant interest in a landholder if the person has an interest in the landholder of—

(a) for a private landholder—50% or more; or

(b) for a public landholder—90% or more.'.