Western Australian Current Acts Western Australian Current Acts (1) Subsection (3)
applies if —
(a)
there are acquisitions (the related acquisitions ) of interests in 2 or more
entities (the main entities ) that together form, evidence, give effect to or
arise from what is, substantially one arrangement; and
(b)
either —
(i)
each of the main entities has a direct or indirect
interest (as referred to in section 154A(2)) in an entity (the relevant entity
) that is not a listed corporation or listed unit trust scheme; or
(ii)
one of the main entities (the relevant entity ) is an
entity that is not a listed corporation or listed unit trust scheme and each
of the other main entities has a direct or indirect interest (as referred to
in section 154A(2)) in the relevant entity;
and
(c)
there is at least 1 main entity that has a total direct or indirect interest
in the relevant entity, calculated under section 154A, that is less than 50%;
and
(d) the
aggregated direct or indirect interest in the relevant entity determined under
subsection (2) is at least 50%.
(2) The aggregated
direct or indirect interest for the purposes of subsection (1)(d) is —
(a) if
subsection (1)(b)(i) applies, the aggregate of the total direct or indirect
interests, calculated under section 154A, that each of the main entities has
in the relevant entity; or
(b) if
subsection (1)(b)(ii) applies, the aggregate of —
(i)
the interests in the relevant entity acquired by each
related acquisition that is an acquisition of an interest in the relevant
entity; and
(ii)
the total direct or indirect interests, calculated under
section 154A, that each of the main entities (other than the relevant entity)
has in the relevant entity.
(3) The relevant
entity is taken, in relation to a related acquisition of an interest in a main
entity to which subsection (1)(c) applies, to be linked to that main entity
under section 156(2).
(4) A relevant entity
that is linked to a main entity for the purposes of an acquisition because of
subsection (3) is taken to be linked in relation to that acquisition even if
that subsection does not become applicable in relation to the acquisition
until after the acquisition occurs.
(5) For the purposes
of this section, the direct or indirect interest, or total direct or indirect
interest, that a main entity has in the relevant entity is to be determined
immediately after the related acquisition of an interest in that main entity.
[Section 156A inserted: No. 12 of 2019 s. 67.]