Commonwealth Numbered Acts

FRINGE BENEFITS TAX ASSESSMENT ACT 1986 No. 39 of 1986 - SECT 158

158. (1) For the purposes of this Act, a company shall be taken to be related
to another company if-

   (a)  one of the companies is a subsidiary of the other company; or

   (b)  each of the companies is a subsidiary of the same company.

(2) For the purposes of this section, a company (in this sub-section
referred to as the "subsidiary company") shall be taken to be the subsidiary
of another company (in this sub-section referred to as the "holding company")
if-

   (a)  all the shares in the subsidiary company are beneficially owned by-

        (i)    the holding company;

        (ii)   a company that is, or 2 or more companies each of which is, a
               subsidiary of the holding company; or

        (iii)  the holding company and a company that is, or 2 or more
               companies each of which is, a subsidiary of the
               holding company; and

   (b)  there is no agreement in force by virtue of which any person is in a
        position to affect rights of the holding company or of a subsidiary of
        the holding company in relation to the subsidiary company.

(3) For the purposes of this section, where a company is a subsidiary of
another company (including a company that is such a subsidiary by virtue of
another application or other applications of this sub-section), every company
that is a subsidiary of the first-mentioned company shall be taken to be a
subsidiary of that other company.

(4) For the purposes of sub-section (2), a person shall be taken to be in a
position to affect any rights of a company in relation to another company if
that person has a right, power or option (whether by virtue of any provision
in the constituent document of either of those companies or by virtue of any
agreement or instrument or otherwise) to acquire those rights or do an act or
thing that would prevent the first-mentioned company from exercising those
rights for its own benefit or receiving any benefits accruing by reason of
those rights.