Commonwealth Consolidated Acts

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Joint ventures

    In this Act:

  (a)   a reference to a joint venture is a reference to an activity in trade or commerce:

  (i)   carried on jointly by two or more persons, whether or not in partnership; or

  (ii)   carried on by a body corporate formed by two or more persons for the purpose of enabling those persons to carry on that activity jointly by means of their joint control, or by means of their ownership of shares in the capital, of that body corporate; and

  (b)   a reference to a contract or arrangement made or understanding arrived at, or to a proposed contract or arrangement to be made or proposed understanding to be arrived at, for the purposes of a joint venture shall, in relation to a joint venture by way of an activity carried on by a body corporate as mentioned in subparagraph   (a)(ii), be read as including a reference to the memorandum and articles of association, rules or other document that constitute or constitutes, or are or is to constitute, that body corporate.

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