South Australian Consolidated Acts South Australian Consolidated Acts (1) In this
Division—
"direct interest"—see section 71EB(1);
"family group" means a group of persons connected by an unbroken series of
relationships of consanguinity or affinity;
"gaming machine business" means a business conducted in pursuance of a
gaming machine licence;
"gaming machine licence" means a gaming machine licence under the Gaming
Machines Act 1992 ;
"gaming machine surcharge" means the duty imposed under this Division;
"hold"—a person "holds" a share in a private entity if the person—
(a) is
registered as the holder; or
(b) is
beneficially entitled to the share; or
(c)
controls the exercise of rights attached to the share;
"indirect interest"—see section 71ED(1);
"net gambling revenue" means net gambling revenue as defined for the purposes
of section 72 of the Gaming Machines Act 1992 ;
"person" includes a private entity;
"private company" means—
(a) a
company that is limited by shares but whose shares are not quoted on a
recognised financial market; or
(b) a
company that is not limited by shares,
but does not include a company that is excluded from the ambit of this
definition by the regulations;
"private entity" means a private company or a private unit trust scheme;
"private unit trust scheme" means—
(a) a
unit trust scheme in which less than 50 persons hold units; or
(b) a
unit trust scheme in which 50 or more persons hold units if 20 or fewer
persons hold 75 per cent or more in number or value of the units on issue,
but does not include a unit trust scheme that is an approved deposit fund or a
pooled superannuation trust within the meaning of the Superannuation Industry
(Supervision) Act 1993 (Cwth);
"proportionate interest"—see sections 71EB(3), 71EC(2) and 71ED(3);
"related entity"—see section 71EC(1);
"share" in a private entity means—
(a)
where the private entity is a private company—a share or other interest
that—
(i)
entitles the holder to vote at a general meeting of
shareholders of the private company; or
(ii)
entitles the holder to share in dividends or would
entitle the holder to share in dividends assuming that there were profits out
of which dividends could be declared; or
(iii)
entitles the holder to share in the distribution of the
assets of the company in the event of a winding up; or
(iv)
confers entitlements of two or more kinds mentioned
above;
(b)
where the private entity is a private unit trust—a unit in the trust.
(2) Property is taken
to be held beneficially by a private unit trust scheme if it is held by the
trustees of the scheme in trust for the unitholders.
(3) If an interest
that is to be valued for the purposes of this Division is the potential
interest of an object of a discretionary trust, the interest is to be valued
as if it were the greatest beneficial interest in the property subject to the
trust that could be conferred under the terms of the trust.