Commonwealth Numbered Acts

SECURITY OF CRITICAL INFRASTRUCTURE ACT 2018 (NO. 29, 2018) - SECT 8A

             (1)  An entity is in a position to directly or indirectly influence or control an asset if:

                     (a)  the entity is in a position to exercise voting or veto rights in relation to the body that governs the asset; or

                     (b)  the entity is in a position to make decisions that materially impact on the running of, or strategic direction in relation to, the asset; or

                     (c)  the entity has the ability to appoint:

                              (i)  persons to the body that governs the asset; or

                             (ii)  key personnel involved in running the asset; or

                     (d)  the entity is in a position to influence or determine decisions relating to:

                              (i)  the business plan, or any other management plan, for the asset; or

                             (ii)  major expenditure relating to the asset; or

                            (iii)  major contracts or transactions involving the asset; or

                            (iv)  major loans involving the asset.

Note:          For interests held by trusts, partnerships, superannuation funds and unincorporated foreign companies, see section 53A.

             (2)  An entity (the controlling entity ) is in a position to directly or indirectly influence or control another entity (the controlled entity ) if the controlling entity:

                     (a)  is in a position to exercise voting or veto rights in relation to the controlled entity; or

                     (b)  is in a position to make decisions that materially impact on the running of, or strategic direction of, the controlled entity; or

                     (c)  has the ability to appoint persons to the board of the controlled entity; or

                     (d)  is in a position to influence or determine decisions relating to:

                              (i)  the business plan, or any other management plan, for the controlled entity; or

                             (ii)  major expenditure relating to the controlled entity; or

                            (iii)  major contracts or transactions involving the controlled entity; or

                            (iv)  major loans involving the controlled entity; or

                     (e)  together with any associates of the controlling entity, holds an interest of at least 10% in the controlled entity (including if any of the interests are held jointly with one or more other entities).

             (3)  This section does not limit when an entity is in a position to directly or indirectly influence or control an asset or other entity.