Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 53

53. For the purposes of section 260, paragraph 461 (e), section 487 or 597,
subsection 1307 (1) or section 1309, or of a prescribed provision of this Act,
the affairs of a body corporate include:

   (a)  the promotion, formation, membership, control, business, trading,
        transactions and dealings (whether alone or jointly with any other
        person or persons and including transactions and dealings as agent,
        bailee or trustee), property (whether held alone or jointly with any
        other person or persons and including property held as agent, bailee
        or trustee), liabilities (including liabilities owed jointly with any
        other person or persons and liabilities as trustee), profits and other
        income, receipts, losses, outgoings and expenditure of the body;

   (b)  in the case of a body corporate (not being an authorised trustee
        corporation) that is a trustee (but without limiting the generality of
        paragraph (a))-matters concerned with the ascertainment of the
        identity of the persons who are beneficiaries under the trust, their
        rights under the trust and any payments that they have received, or
        are entitled to receive, under the terms of the trust;

   (c)  the internal management and proceedings of the body;

   (d)  any act or thing done (including any contract made and any transaction
        entered into) by or on behalf of the body, or to or in relation to the
        body or its business or property, at a time when:

        (i)    a receiver, or a receiver and manager, is in possession of, or
               has control over, property of the body;

        (ii)   the body is under official management;

        (iii)  a compromise or arrangement made between the body and any other
               person or persons is being administered; or

        (iv)   the body is being wound up;
and, without limiting the generality of the foregoing, any conduct of such a
receiver or such a receiver and manager, of an official manager or deputy
official manager of the body, of a person administering such a compromise or
arrangement or of a liquidator or provisional liquidator of the body;

   (e)  the ownership of shares in, debentures of, and prescribed interests
        made available by, the body;

   (f)  the power of persons to exercise, or to control the exercise of, the
        rights to vote attached to shares in the body or to dispose of, or to
        exercise control over the disposal of, such shares;

   (g)  matters concerned with the ascertainment of the persons who are or
        have been financially interested in the success or failure, or
        apparent success or failure, of the body or are or have been able to
        control or materially to influence the policy of the body;

   (h)  the circumstances under which a person acquired or disposed of, or
        became entitled to acquire or dispose of, shares in, debentures of, or
        prescribed interests made available by, the body;

   (j)  where the body has made available prescribed interests-any matters
        concerning the financial or business undertaking, scheme, common
        enterprise or investment contract to which the interests relate; and

   (k)  matters relating to or arising out of the audit of, or working papers
        or reports of an auditor concerning, any matters referred to in a
        preceding paragraph.