Queensland Consolidated Acts

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DUTIES ACT 2001 - SECT 236

What is a foreign corporation

236 What is a foreign corporation

(1) Each of the following is a
"foreign corporation"
(a) a corporation incorporated outside Australia;
(b) a corporation in which foreign persons have a controlling interest.
(2) A corporation is taken to be a corporation mentioned in subsection (1) (b) if, taking their interests together, 1 or more persons who are foreign persons or related persons of foreign persons—
(a) are in a position to control at least 50% of the voting power in the corporation; or
(b) are in a position to control at least 50% of the potential voting power in the corporation; or
(c) have an interest in at least 50% of the issued shares in the corporation.
(3) In this section—

"potential voting power" see the Foreign Acquisitions and Takeovers Act 1975 (Cwlth) , section 22 .

"voting power" see the Foreign Acquisitions and Takeovers Act 1975 (Cwlth) , section 22 .



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