Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 17 - INTERPRETING THIS ACT  

PART 17-2 - INTERPRETATION OF OTHER EXPRESSIONS  

Division 694 - Interpretation of other expressions  

SECTION 694-45   ENTITIES CONNECTED WITH A CORPORATION (INCLUDING AN ABORIGINAL AND TORRES STRAIT ISLANDER CORPORATION)  
Body corporate

694-45(1)    
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.

Natural person

694-45(2)    
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.

Partnership

694-45(3)    
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.

Trust

694-45(4)    
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.

694-45(5)    
To avoid doubt, a reference in this section to a corporation includes a reference to an Aboriginal and Torres Strait Islander corporation.