Commonwealth Numbered Acts

CORPORATE LAW REFORM ACT 1992 No. 210 of 1992 - SECT 32

32. After section 64 of the Corporations Law the following sections are
inserted: Entities

"64A. Except in Parts 3.2A, 3.6 and 3.7, a reference to an entity:

   (a)  is a reference to a natural person, a body corporate (other than an
        exempt public authority), a partnership or a trust; and

   (b)  includes, in the case of a trust, a reference to the trustee of the
        trust. Entities connected with a corporation (Body corporate)

"64B.(1) A body corporate is connected with a corporation if, and only if, the
corporation:

   (a)  can control, or influence materially, the body's activities or
        internal affairs; or

   (b)  is a member of the body; or

   (c)  is in a position to cast, or to control the casting of, a vote at a
        general meeting of the body; or

   (d)  has power to dispose of, or to exercise control over the disposal of,
        a share in the body; or

   (e)  is financially interested in the body's success or failure or apparent
        success or failure; or

   (f)  is owed a debt by the body; or

   (g)  is engaged by the body under a contract for services; or

   (h)  acts as agent for the body in any transaction or dealing. (Natural
        person)

"(2) A natural person is connected with a corporation if, and only if, the
corporation:

   (a)  is a trustee of a trust under which the person is capable of
        benefiting; or

   (b)  is engaged by the person under a contract for services; or

   (c)  acts as agent for the person in any transaction or dealing; or

   (d)  is an attorney of the person under a power of attorney; or

   (e)  has appointed the person as the corporation's attorney under a power
        of attorney; or

   (f)  is given financial, business or legal advice by the person in the
        performance of the functions attaching to the person's professional
        capacity. (Partnership)

"(3) A partnership is connected with a corporation if, and only if, the
corporation:

   (a)  is a partner in the partnership; or

   (b)  can control, or influence materially, the partnership's activities or
        internal affairs; or

   (c)  is financially interested in the partnership's success or failure or
        apparent success or failure; or

   (d)  is a creditor of the partnership; or

   (e)  is engaged by the partnership under a contract for services; or

   (f)  acts as agent for the partnership in any transaction or dealing.
        (Trust)

"(4) A trust is connected with a corporation if, and only if, the corporation:

   (a)  is the settlor, or one of the settlors, of the trust; or

   (b)  has power under the terms of the trust to appoint or remove a trustee
        of the trust or to vary, or cause to be varied, any of the terms of
        the trust; or

   (c)  is a trustee of the trust; or

   (d)  can control, or influence materially, the activities of the trust; or

   (e)  is capable of benefiting under the trust; or

   (f)  is a creditor of the trustee of the trust; or

   (g)  is engaged by the trustee of the trust under a contract for services;
        or

   (h)  acts as agent for the trustee of the trust in any transaction or
        dealing.".