Monday, May 6, 2013

CORPORATIONS ACT 2001 - SECT 64B

Body corporate
(1)  A body corporate is connected with a corporation if, and only if, the corporation:
      (a)  can control, or influence materially, the body’s activities or internal affairs; or
      (b)  is a member of the body; or
      (c)  is in a position to cast, or to control the casting of, a vote at a general meeting of the body; or
      (d)  has power to dispose of, or to exercise control over the disposal of, a share in the body; or
      (e)  is financially interested in the body’s success or failure or apparent success or failure; or
      (f)  is owed a debt by the body; or
      (g)  is engaged by the body under a contract for services; or
      (h)  acts as agent for the body in any transaction or dealing.
Natural person
(2)  A natural person is connected with a corporation if, and only if, the corporation:
      (a)  is a trustee of a trust under which the person is capable of benefiting; or
      (b)  is engaged by the person under a contract for services; or
      (c)  acts as agent for the person in any transaction or dealing; or
      (d)  is an attorney of the person under a power of attorney; or
      (e)  has appointed the person as the corporation’s attorney under a power of attorney; or
      (f)  is given financial, business or legal advice by the person in the performance of the functions attaching to the person’s professional capacity.
Partnership
(3)  A partnership is connected with a corporation if, and only if, the corporation:
      (a)  is a partner in the partnership; or
      (b)  can control, or influence materially, the partnership’s activities or internal affairs; or
      (c)  is financially interested in the partnership’s success or failure or apparent success or failure; or
      (d)  is a creditor of the partnership; or
      (e)  is engaged by the partnership under a contract for services; or
      (f)  acts as agent for the partnership in any transaction or dealing.
Trust 
(4)  A trust is connected with a corporation if, and only if, the corporation:
       (a)  is the settlor, or one of the settlors, of the trust; or
       (b)  has power under the terms of the trust to appoint or remove a trustee of the trust or to vary, or cause to be varied, any of the terms of the trust; or
       (c)  is a trustee of the trust; or
       (d)  can control, or influence materially, the activities of the trust; or
       (e)  is capable of benefiting under the trust; or
       (f)  is a creditor of the trustee of the trust; or
       (g)  is engaged by the trustee of the trust under a contract for services; or
       (h)  acts as agent for the trustee of the trust in any transaction or dealing.


No comments:

Post a Comment