Commonwealth Consolidated Acts Commonwealth Consolidated ActsIf you are a * member of an entity:
(a) each interest, or set of interests, in the entity; or
(b) each right, or set of rights, in relation to the entity;
by virtue of which you are a member of the entity is a membership interest of yours in the entity.
Note: In conjunction with subsection 960 - 130(3), this means that a debt interest is not a membership interest.
Example: A member of a company holds a finance share in a company that
is a debt interest and some other shares in the company that are not debt
interests. Only the other shares are membership interests in the company. The
finance share is not, because the member is not a member of the company
because of that share (see subsection 960 - 130(3)).