CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 1 - INTRODUCTORY
PART 1.2 - INTERPRETATION
Division 7 - Interpretation of other expressions
SECTION 64B
ENTITIES CONNECTED WITH A CORPORATION
64B(1)
[Body corporate]
A body corporate is connected with a corporation if, and only if, the corporation:
(a)
can control, or influence materially, the body's activities or internal affairs; or
(b)
is a member of the body; or
(c)
is in a position to cast, or to control the casting of, a vote at a general meeting of the body; or
(d)
has power to dispose of, or to exercise control over the disposal of, a share in the body; or
(e)
is financially interested in the body's success or failure or apparent success or failure; or
(f)
is owed a debt by the body; or
(g)
is engaged by the body under a contract for services; or
(h)
acts as agent for the body in any transaction or dealing.
History
S 64B(1) inserted by No 210 of 1992, s 32 (effective 23 June 1993).
64B(2)
[Natural person]
A natural person is connected with a corporation if, and only if, the corporation:
(a)
is a trustee of a trust under which the person is capable of benefiting; or
(b)
is engaged by the person under a contract for services; or
(c)
acts as agent for the person in any transaction or dealing; or
(d)
is an attorney of the person under a power of attorney; or
(e)
has appointed the person as the corporation's attorney under a power of attorney; or
(f)
is given financial, business or legal advice by the person in the performance of the functions attaching to the person's professional capacity.
History
S 64B(2) inserted by No 210 of 1992, s 32 (effective 23 June 1993).
64B(3)
[Partnership]
A partnership is connected with a corporation if, and only if, the corporation:
(a)
is a partner in the partnership; or
(b)
can control, or influence materially, the partnership's activities or internal affairs; or
(c)
is financially interested in the partnership's success or failure or apparent success or failure; or
(d)
is a creditor of the partnership; or
(e)
is engaged by the partnership under a contract for services; or
(f)
acts as agent for the partnership in any transaction or dealing.
History
S 64B(3) inserted by No 210 of 1992, s 32 (effective 23 June 1993).
64B(4)
[Trust]
A trust is connected with a corporation if, and only if, the corporation:
(a)
is the settlor, or one of the settlors, of the trust; or
(b)
has power under the terms of the trust to appoint or remove a trustee of the trust or to vary, or cause to be varied, any of the terms of the trust; or
(c)
is a trustee of the trust; or
(d)
can control, or influence materially, the activities of the trust; or
(e)
is capable of benefiting under the trust; or
(f)
is a creditor of the trustee of the trust; or
(g)
is engaged by the trustee of the trust under a contract for services; or
(h)
acts as agent for the trustee of the trust in any transaction or dealing.
History
S 64B(4) inserted by No 210 of 1992, s 32 (effective 23 June 1993).