Victorian Consolidated Legislation

Land Tax Act 2005 - SECT 48

What is a controlling interest in a corporation?

48. What is a controlling interest in a corporation?

For the purposes of this Division, a person has, or persons have together, a
controlling interest in a corporation if-

   (a)  that person, or those persons acting together, can control the
        composition of the board of the corporation; or

   (b)  that person is, or those persons acting together are, in a position to
        cast or control the casting of more than 50% of the maximum number of
        votes that might be cast at a general meeting of the corporation; or

   (c)  that person holds, or those persons acting together hold, more than
        50% of the issued share capital of the corporation.