New South Wales Consolidated Acts

WORKERS COMPENSATION ACT 1987 - SECT 175P

175P Primary groups arising from tracing of interests in corporations

(1) An entity and a corporation form part of a primary group if the entity has a controlling interest in the corporation.

(2) For the purposes of this section, an entity has a
"controlling interest" in a corporation if the corporation has share capital and--

(a) the entity has a direct interest in the corporation and the value of that direct interest exceeds 50%, or

(b) the entity has an indirect interest in the corporation and the value of that indirect interest exceeds 50%, or

(c) the entity has an aggregate interest in the corporation and the value of the aggregate interest exceeds 50%.

(3) Schedule 2 has effect.

Note : Schedule 2 sets out the manner for determining whether an entity has a direct interest, indirect interest or aggregate interest in a corporation, and the value of such an interest.

(4) In this section--

"associated person" has the meaning given by the Duties Act 1997 .

"entity" means--

(a) a person, or

(b) a group of associated persons.