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CASINO CONTROL ACT 1992 - SECT 3A
Meaning of "close associate"
3A Meaning of "close associate"
(1) In this Act, a
"close associate" , of a casino operator or an applicant for a casino licence,
means-- (a) a related body corporate of the casino operator or applicant, or
(b) a person who holds an interest of 10% or more of the share capital in--
(i) the casino operator or applicant, or
(ii) a related body corporate of the
casino operator or applicant, or
(c) a director or officer of-- (i) the
casino operator, or
(ii) a related body corporate of the casino operator or
applicant, or
(iii) a person who holds an interest of 10% or more of the
share capital in-- (A) the casino operator or applicant, or
(B) a
related body corporate of the casino operator or applicant, or
(d) a person
who-- (i) holds or will hold a relevant financial interest, or is or will be
entitled to exercise relevant power, whether in the person's own right or on
behalf of another person, in the casino operator's or applicant's business
that is or will be carried on under the authority of the licence, and
(ii)
because of that interest or power is or will be able, in the NICC's opinion,
to exercise a significant influence over or in relation to the management or
operation of the business, or
(e) a person who holds or will hold a
relevant position, whether in the person's own right or on behalf of another
person, in the casino operator's or applicant's business that is or will be
carried on under the authority of the licence.
(2) For this section, a
financial institution is not a close associate by reason only of having a
relevant financial interest in relation to a business.
(3) In this section--
"officer" , of a related body corporate, has the same meaning as in the
Corporations Act 2001 of the Commonwealth.
"relevant financial interest" , in relation to a business, means-- (a) a share
in the capital of the business, or
(b) an entitlement to receive income
derived from the business or to receive another financial benefit or financial
advantage from the carrying on of the business, whether the entitlement arises
at law, in equity or otherwise, or
(c) an entitlement to receive rent, profit
or other income in connection with the use or occupation of premises on which
the business of the casino is carried on.
"relevant position" means-- (a) the position of director, manager or
secretary, or
(b) another position, however designated, if it is an executive
position.
"relevant power" means any power, whether exercisable by voting or otherwise
and whether exercisable alone or in association with others-- (a) to
participate in a directorial, managerial or executive decision, or
(b) to
elect or appoint a person to a relevant position.
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