Commonwealth Numbered Acts

BROADCASTING SERVICES ACT 1992 No. 110 of 1992 - SECT 8

8.(1) For the purposes of this Act:

   (a)  a person has a shareholding interest in a company if the person is
        beneficially entitled to, or to an interest in, shares in the company,
        whether or not any part of the legal ownership of the shares is vested
        in the person; and

   (b)  the percentage of the interest is the value of the shares, or of the
        interest in the shares, as the case may be, on the basis that the
        value of the shares is equal to the amount paid on the shares,
        expressed as a percentage of the total of all amounts paid on shares
        in the company.

(2) For the purposes of this Act:

   (a)  a person has a voting interest in a company if the person is in a
        position to exercise control of votes cast on a poll at a meeting of
        the company; and

   (b)  the percentage of the interest is the greatest percentage of the
        number of votes, expressed as a percentage of the total number of
        votes that could be cast on any issue at a meeting of the company, the
        casting of which the person is in a position to control.

(3) For the purposes of this Act:

   (a)  a person has a dividend interest in a company if:

        (i)    the person is, or would become if a dividend were declared,
               beneficially entitled to be paid or credited a dividend by the
               company; or

        (ii)   under the memorandum and articles of association of the
               company, a share of any profits of the company is to be, or may
               be, paid or credited to the person otherwise than as dividends
               on shares; and

   (b)  the percentage of the interest is:

        (i)    if subparagraph (a)(i) applies - the amount of the dividend to
               which the person is beneficially entitled or will become
               beneficially entitled expressed as a percentage of the total of
               all dividends to which members of the company become entitled
               at that time; or

        (ii)   if subparagraph (a)(ii) applies - the amount of the maximum
               share of any profits of the company that could be paid or
               credited to the person at a particular time expressed as a
               percentage of the total of all shares of profits that could be
               paid or credited to all members of the company at that time.

(4) For the purposes of this Act:

   (a)  a person has a winding-up interest in a company if the person would be
        entitled to a share of the property of the company that could be
        distributed among members of the company if property of the company
        were distributed among members, whether as a result of a winding-up or
        otherwise; and

   (b)  the percentage of the interest is the percentage that the value of
        that part of the property of the company to which the person would be
        so entitled bears to the total value of the property of the company.

(5) A person may have a voting interest, a dividend interest or a winding-up
interest in a company even if the person does not have a beneficial
entitlement to, or to an interest in, shares in the company.