Commonwealth Numbered Regulations

FOREIGN ACQUISITIONS AND TAKEOVERS REGULATION 2015 (SLI NO 217 OF 2015) - REG 16

                   For the definition of direct interest in section 4 of the Act, a direct interest in an entity or business is:

                     (a)  an interest of at least 10% in the entity or business; or

                     (b)  an interest of at least 5% in the entity or business if the person who acquires the interest has entered a legal arrangement relating to the businesses of the person and the entity or business; or

                     (c)  an interest of any percentage in the entity or business if the person who acquired the interest is in a position:

                              (i)  to influence or participate in the central management and control of the entity or business; or

                             (ii)  to influence, participate in or determine the policy of the entity or business.

Note:          Section 17 of the Act defines interest of a specified percentage in an entity. Section 5 of this instrument defines interest of a specified percentage in a business.