STAMP DUTIES ACT 1923 - SECT 94
STAMP DUTIES ACT 1923 - SECT 94
(1) Two relevant
entities are "related entities" if—
(a) 1
has a direct interest in the other; or
(b) a
series of such relationships can be traced between them through another or
other related entities ("intermediate entities ).
(2) If a
relevant entity is related to another relevant entity by a relationship traced
through an intermediate entity or intermediate entities, the relevant entity's
proportionate interest in the other is calculated by multiplying the relevant
fractions together and expressing the result as a percentage.
Example—
Entity A (a listed company) holds a 75% proportionate interest in entity B (a
private unit trust scheme) which in turn holds a 50% proportionate interest in
entity C (a private company). In this case the proportionate interest of
entity A in entity C (insofar as it is traced through entity B) is 37.5%.