Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A reference in this Division to the voting power in a company is a reference to the total rights of shareholders to vote, or participate in any decision - making, concerning any of the following:
(a) the making of distributions of capital or profits of the company to its shareholders;
(b) the constituent document of the company;
(c) any variation of the share capital of the company;
(d) any appointment of a director of the company.
(2) A reference in this Division to control of the voting power in a company is a reference to control that is direct or indirect, including control that is exercisable as a result of or by means of arrangements or practices:
(a) whether or not having legal or equitable force; and
(b) whether or not based on legal or equitable rights.
(3) If the percentage of total rights to vote or participate in decision - making differs as between different types of voting or decision - making, the highest of those percentages applies for the purposes of this section.
(4) If a company:
(a) is limited both by shares and by guarantee; or
(b) does not have a share capital;
this section has effect as if the members or policy holders of the company
were shareholders in the company.