Corporations Act 2001

CHAPTER 1 - INTRODUCTORY  

PART 1.2 - INTERPRETATION  

Division 2 - Meaning of associate  

SECTION 16   EXCLUSIONS  

Modifying legislative instruments

16(1)    
A person is not an associate of another person by virtue of section 12 or subsection 15(1) , or by virtue of subsection 15(2) as it applies in relation to section 12 or subsection 15(1) , merely because of one or more of the following:

(a)    one gives advice to the other, or acts on the other's behalf, in the proper performance of the functions attaching to a professional capacity or a business relationship;

(b)    

one, a client, gives specific instructions to the other, whose ordinary business includes dealing in financial products, to acquire financial products on the client's behalf in the ordinary course of that business;

(c)    one had sent, or proposes to send, to the other an offer under a takeover bid for shares held by the other;

(d)    one has appointed the other, otherwise than for valuable consideration given by the other or by an associate of the other, to vote as a proxy or representative at a meeting of members, or of a class of members, of a body corporate.

16(2)    

For the purposes of proceedings under this Act in which it is alleged that a person was an associate of another person by virtue of paragraph 13(b) or (e) , the first-mentioned person is not taken to have been an associate of the other person in relation to a matter by virtue of that paragraph unless it is proved that the first-mentioned person knew, or ought to have known, at that time, the material particulars of that matter.