(1) A body corporate that has a place of business in Australia, or in a State or Territory, carries on business in Australia, or in that State or Territory, as the case may be. (2) A reference to a body corporate carrying on business in Australia, or in a State or Territory, includes a reference to the body:

(a)

establishing or using a share transfer office or share registration office in Australia, or in the State or Territory, as the case may be; or

(b)

administering, managing, or otherwise dealing with, property situated in Australia, or in the State or Territory, as the case may be, as an agent, legal personal representative or trustee, whether by employees or agents or otherwise.

(3) Despite subsection (2), a body corporate does not carry on business in Australia, or in a State or Territory, merely because, in Australia, or in the State or Territory, as the case may be, the body:

(a)

is or becomes a party to a proceeding or effects settlement of a proceeding or of a claim or dispute; or

(b)

holds meetings of its directors or shareholders or carries on other activities concerning its internal affairs; or

(c)

maintains a bank account; or

(d)

effects a sale through an independent contractor; or

(e)

solicits or procures an order that becomes a binding contract only if the order is accepted outside Australia, or the State or Territory, as the case may be; or

(f)

creates evidence of a debt, or creates a charge on property; or

(g)

secures or collects any of its debts or enforces its rights in regard to any securities relating to such debts; or

(h)

conducts an isolated transaction that is completed within a period of 31 days, not being one of a number of similar transactions repeated from time to time; or

(j)

invests any of its funds or holds any property.