Commonwealth Numbered Acts

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BROADCASTING AMENDMENT ACT (No. 2) 1990 No. 7 of 1991 - SECT 17

17. After section 89J of the Principal Act the following section is inserted:
Control of company by exercise of direction or restraint

"89JA. (1) For the purposes of this Part, a person who is in a position:

   (a)  to veto any action taken by the board of directors; or

   (b)  to appoint, or veto the appointment of, at least half of the board of
        directors; or

   (c)  in any other manner to exercise, either directly or indirectly,
        direction or restraint over any substantial issue affecting the
        management or affairs; of a company is taken (but not to the exclusion
        of any other person) to be in a position to exercise control of:

   (d)  that company; and

   (e)  all acts and operations of that company; and

   (f)  any votes, of which that company is in a position to exercise control,
        in another company.

"(2) For the purposes of this section, where a person is, because of any
application or applications of this section, taken to be in a position to
exercise control of a company that has a shareholding interest in another
company, that person is taken (but not to the exclusion of any other person)
to have that shareholding interest.". 


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