Corporations Act 2001
Note: This Chapter applies to a CCIV with modifications: see Division 5 of Part 8B.3 .
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Hide history noteAn entity that controls a public company is a related party of the public company.
228(2) Directors and their spouses.The following persons are related parties of a public company:
(a) directors of the public company;
(b) directors (if any) of an entity that controls the public company;
(c) if the public company is controlled by an entity that is not a body corporate - each of the persons making up the controlling entity;
(d) spouses of the persons referred to in paragraphs (a), (b) and (c).
The following relatives of persons referred to in subsection (2) are related parties of the public company:
(a) parents;
(b) children. 228(4) Entities controlled by other related parties.
An entity controlled by a related party referred to in subsection (1), (2) or (3) is a related party of the public company unless the entity is also controlled by the public company.
228(5) Related party in previous 6 months.An entity is a related party of a public company at a particular time if the entity was a related party of the public company of a kind referred to in subsection (1), (2), (3) or (4) at any time within the previous 6 months.
228(6) Entity has reasonable grounds to believe it will become related party in future.An entity is a related party of a public company at a particular time if the entity believes or has reasonable grounds to believe that it is likely to become a related party of the public company of a kind referred to in subsection (1), (2), (3) or (4) at any time in the future.
228(7) Acting in concert with related party.An entity is a related party of a public company if the entity acts in concert with a related party of the public company on the understanding that the related party will receive a financial benefit if the public company gives the entity a financial benefit.
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