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PAYROLL TAX ACT 2007 - SECT 76
Direct interest
76 Direct interest
(1) An entity has a
"direct interest" in a corporation if- (a) in the case of an entity that is a
person-the person can, directly or indirectly, exercise, control the exercise
of, or substantially influence the exercise of, the voting power attached to
any voting shares issued by the corporation, or
(b) in the case of an entity
that is 2 or more persons who are associated persons-each of the associated
persons can, directly or indirectly, exercise, control the exercise of, or
substantially influence the exercise of, the voting power attached to any
voting shares issued by the corporation.
(2) The value of the direct interest
of the entity in the corporation is the proportion (expressed as a percentage)
of the voting power of all voting shares issued by the corporation that- (a)
in the case of an entity that is a person-the person can directly or
indirectly exercise, control the exercise of, or substantially influence the
exercise of, as referred to in subsection (1), or
(b) in the case of an
entity that is 2 or more persons who are associated persons-the associated
persons can, if acting together, directly or indirectly exercise, control the
exercise of, or substantially influence the exercise of, as referred to in
subsection (1).
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