South Australian Numbered Acts South Australian Numbered Acts5—Amendment of section 26—Interpretation
(1) Section 26(1)—after the definition of "domestic partner insert:
"friendly society" means a company that is a friendly society under the Corporations Act 2001 of the Commonwealth and that—
(a) provides mutual benefits to its members; and
(b) is a non-profit organisation; and
(c) has at least 100 members; and
(d) has a constitution that provides that the main object of the company is to carry on the business of pharmacy;
(2) Section 26(1)—after the definition of "pharmacist" insert:
"pharmacist controlled company" means a company within the meaning of the Corporations Act 2001 of the Commonwealth—
(a) in which—
(i) at least 1 director is a pharmacist; and
(ii) every director is either a pharmacist or a prescribed relative of a pharmacist; and
(b) where each holder of shares, or of a beneficial or legal interest in shares, in the company is—
(i) a pharmacist or a prescribed relative of a pharmacist; or
(ii) a recognised corporate pharmacy services provider; or
(iii) a recognised trustee pharmacy services provider; and
(c) in which a pharmacist is, or pharmacists are, entitled to control the exercise of at least 50% of the voting power—
(i) at meetings of the directors of the company; or
(ii) attached to voting shares issued by the company;
"pharmacist controlled trust" means a trust where each trustee is—
(a) a pharmacist; or
(b) a prescribed relative of a pharmacist as long as at least 1 other trustee is a pharmacist; or
(c) a pharmacist controlled company; or
(d) a person of a prescribed class;
(3) Section 26(1), definition of "pharmacy services provider —delete the definition and substitute:
"pharmacy services provider" means—
(a) any person who holds a proprietary interest in a pharmacy business; or
(b) any person referred to in section 51(2);
(4) Section 26(1)—after the definition of "prescribed relative insert:
"proprietary interest", in relation to a pharmacy business, means a legal or beneficial interest, and includes an interest as—
(a) a sole proprietor; or
(b) a partner; or
(c) a director, member or shareholder of a company, as defined in the Corporations Act 2001 of the Commonwealth; or
(d) a trustee or beneficiary of a trust,
and has the meaning affected by subsection (2);
(5) Section 26(2) to (11)—delete subsections (2) to (11) (inclusive) and substitute:
(2) Without limiting the generality of the expression, a person will be taken to hold a proprietary interest in a pharmacy business if—
(a) the person is a party to an arrangement of a kind prescribed by the regulations; or
(b) the person, in the course of carrying on a business, provides a benefit to another for which the person is entitled to receive the profits or income, or a share in the profits or income, of a pharmacy business; or
(c) the person has, under a franchise or other commercial arrangement, a right to receive consideration that varies according to the profits or income of a pharmacy business.
(3) For the purposes of this Part, each of the following is a "recognised corporate pharmacy services provider":
(a) a pharmacist controlled company;
(b) a friendly society;
(c) a company that carried on a pharmacy business on 1 August 1942 and has continued to do so since that date other than—
(i) Friendly Society Medical Association Limited; or
(ii) The Mount Gambier United Friendly Societies Dispensary Limited.
(4) For the purposes of this Part, a "recognised trustee pharmacy services provider is any pharmacist controlled trust.
(5) For the purposes of this Part, a person occupies a "position of authority in a recognised corporate pharmacy services provider if the person—
(a) is a director of the body corporate; or
(b) exercises, or is in a position to exercise, control or substantial influence over the body corporate in the conduct of its affairs; or
(c) manages, or is to manage, the business of the body corporate insofar as that business consists of the provision of pharmacy services; or
(d) where the body corporate is a proprietary company—is a shareholder in the body corporate.
(6) For the purposes of this Part, a person who holds more than 10% of the issued share capital of a public company will be regarded as a person occupying a "position of authority" in that company.
(7) For the purposes of this Part, a person occupies a "position of authority in a recognised trustee pharmacy services provider if the person is a trustee or beneficiary of the trust.
(8) However—
(a) a minor who is a shareholder in a proprietary company, or a beneficiary under a trust, is not, for that reason, to be regarded as a person occupying a "position of authority"; and
(b) a charitable organisation that is a beneficiary of a trust is not, for that reason, to be regarded as occupying a "position of authority"; and
(c) a reference in a preceding provision to a beneficiary of a trust is a reference to a beneficiary who receives distributions from the trust.