Commonwealth Repealed Acts
[Index]
[Table]
[Search]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[Help]
This legislation has been repealed.
CORPORATIONS LAW- SECT 228
Related parties
Controlling entities
- (1)
- An entity that
controls a public company is a related party of the public company.
Directors and their spouses
- (2)
- The
following persons are related parties of a public company:
- (a)
- directors of the public
company
- (b)
- directors (if any) of an entity that controls the public
company
- (c)
- if the public company is controlled by an entity that is not a
body corporateeach of the persons making up the controlling
entity
- (d)
- spouses and de facto spouses of the persons referred to in
paragraphs (a),
- (b)
- and (c).
Relatives of directors and spouses
(3) The following relatives of persons referred to in subsection
- (2)
- are related parties of the public company:
- (a)
- parents
- (b)
- children.
Entities controlled by other related parties
- (4)
- An entity controlled by a related party referred to in
subsection (1), (2) or (3) is a related party of the public company unless the
entity is also controlled by the public company.
Related party
in previous 6 months
(5) An entity is a related
party of a public company at a particular time if the entity was a related
party of the public company of a kind referred to in subsection (1), (2), (3)
or (4) at any time within the previous 6 months.
Entity has
reasonable grounds to believe it will become related party in future
(6) An entity is a related party of a public company at a
particular time if the entity believes or has reasonable grounds to believe
that it is likely to become a related party of the public company of a kind
referred to in subsection (1), (2), (3) or (4) at any time in the future.
Acting in concert with related party
- (7)
- An entity is a related party of a public company if the entity
acts in concert with a related party of the public company on the
understanding that the related party will receive a financial benefit if the
public company gives the entity a financial benefit.
[Index]
[Table]
[Search]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[Help]