Victorian Numbered Acts Victorian Numbered Acts(1) For section 66(2), (3), (4), (5), (6) and (7) of the Accident Compensation (WorkCover Insurance) Act 1993 substitute —
"(2) If a person or set of persons has a controlling interest in each of 2 businesses under subsection (3), the persons who carry on those businesses constitute a group and each person is a member of the group.
Note
Subsection (8) allows the Authority to exclude members from a group constituted under this subsection in certain circumstances.
(3) For the purposes of subsection (2), a person or set of persons, has a controlling interest in a business if—
(a) in the case of a business carried on by a corporation—
(i) the person or each of the set of persons is a director of the corporation and the person or set of persons is entitled to exercise more than 50% of the voting power at meetings of the directors of the corporation; or
(ii) a director or set of directors of the corporation that is entitled to exercise more than 50% of the voting power at meetings of the directors of the corporation is under an obligation, whether formal or informal, to act in accordance with the direction, instructions or wishes of that person or set of persons; or
(b) in the case of a business carried on by a corporation that has a share capital—that person or set of persons can, directly or indirectly, exercise, control the exercise of, or substantially influence the exercise of, more than 50% of the voting power attached to the voting shares, or any class of voting shares, issued by the corporation; or
(c) in the case of a business carried on by a body corporate or unincorporate—that person or set of persons constitute more than 50% of the board of management (by whatever name called) of the body or control the composition of the board; or
(d) in the case of a business carried on by a partnership—that person or set of persons—
(i) own (whether beneficially or not) more than 50% of the capital of the partnership; or
(ii) is entitled (whether beneficially or not) to more than 50% of the profits of the partnership; or
(e) in the case of a business carried on under a trust—the person or set of persons (whether or not as a trustee of, or beneficiary under, another trust) is the beneficiary in respect of more than 50% of the value of the interests in the first-mentioned trust; or
(f) in the case of one person—the person is the sole owner (whether or not as trustee) of the business; or
(g) in the case of a set of persons—the persons are together as trustees the sole owners of the business.
(4) A person who may benefit from a discretionary trust as a result of the trustee or another person, or the trustee and another person, exercising or failing to exercise a power or discretion, is taken, for the purposes of this Act, to be a beneficiary in respect of more than 50% of the value of the interests in the trust.
(5) If—
(a) 2 corporations are related bodies corporate within the meaning of the Corporations Act; and
(b) one of the corporations has a controlling interest in a business—
the other corporation has a controlling interest in the business.
(6) If—
(a) a person or set of persons has a controlling interest in a business; and
(b) a person or set of persons who carry on the business has a controlling interest in another business—
the person or set of persons referred to in paragraph (a) has a controlling interest in that other business.
(7) If—
(a) a person or set of persons is the beneficiary of a trust in respect of more than 50% of the value of the interests in the trust; and
(b) the trustee of the trust (whether alone or together with another trustee or trustees) has a controlling interest in the business of another trust—
the person or set of persons has a controlling interest in the business.
(7A) If—
(a) a person or set of persons has a controlling interest in the business of a trust; and
(b) the trustee of the trust (whether alone or together with another trustee or trustees) has a controlling interest in the business of a corporation—
the person or set of persons is deemed to have a controlling interest in the business of the corporation.
(7B) If—
(a) a person or set of person has a controlling interest in the business of a trust; and
(b) the trustee of the trust (whether alone or together with another trustee or trustees) has a controlling interest in the business of a partnership—
the person or set of persons is deemed to have a controlling interest in the business of the partnership.".