Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 44

44. (1) For the purposes of determining whether or not a person has a relevant
interest in securities, this Division applies as if, in this Division (other
than sections 35 and 37 and this section):

   (a)  a reference to a share were a reference to securities;

   (b)  a reference to a voting share in a body corporate were a reference to
        securities to which a right to vote at a meeting is attached;

   (c)  a reference to an issued share were a reference to securities that
        have been issued or made available;

   (d)  subsection (2) of this section were substituted for section 35; and

   (e)  subsection (3) of this section were substituted for section 37.

(2) Where a body corporate is, by section 34 as it applies by virtue of this
section, deemed to have a relevant interest in securities, a person shall be
deemed for the purposes of this Division as it so applies to have a relevant
interest in the securities if:

   (a)  the body is, or its directors are, accustomed or under an obligation,
        whether formal or informal, to act in accordance with the directions,
        instructions or wishes of the person in relation to the exercise of:

        (i)    power to vote in respect of the securities; or

        (ii)   power to dispose of the securities;

   (b)  the person has a controlling interest in the body; or

   (c)  the person has power to vote in respect of not less than the
        prescribed percentage of the voting shares in the body.

(3) A person may, by virtue of this Division as it applies by virtue of this
section, be taken or deemed to have a relevant interest in securities issued
or made available by the person.