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CORPORATIONS ACT 2001

CHAPTER 1 - INTRODUCTORY  

PART 1.2 - INTERPRETATION  

Division 6 - Subsidiaries and related bodies corporate  

SECTION 50AAA  ASSOCIATED ENTITIES  

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50AAA(1)  [General rule]  


One entity (the associate) is an associated entity of another entity (the principal) if subsection (2), (3), (4), (5), (6) or (7) is satisfied.

50AAA(2)  [Related bodies corporate]  


This subsection is satisfied if the associate and the principal are related bodies corporate.

50AAA(3)  [Principal controls associate]  


This subsection is satisfied if the principal controls the associate.

50AAA(4)  [Associate controls principal]  


This subsection is satisfied if:


(a) the associate controls the principal; and


(b) the operations, resources or affairs of the principal are material to the associate.

50AAA(5)  [Qualifying investment - associate]  


This subsection is satisfied if:


(a) the associate has a qualifying investment (see subsection (8)) in the principal; and


(b) the associate has significant influence over the principal; and


(c) the interest is material to the associate.

50AAA(6)  [Qualifying investment - principal]  


This subsection is satisfied if:


(a) the principal has a qualifying investment (see subsection (8)) in the associate; and


(b) the principal has significant influence over the associate; and


(c) the interest is material to the principal.

50AAA(7)  [Control of both principal and associate]  


This subsection is satisfied if:


(a) an entity (the third entity) controls both the principal and the associate; and


(b) the operations, resources or affairs of the principal and the associate are both material to the third entity.

50AAA(8)  ["qualifying investment"]  


For the purposes of this section, one entity (the first entity) has a qualifying investment in another entity (the second entity) if the first entity:


(a) has an asset that is an investment in the second entity; or


(b) has an asset that is the beneficial interest in an investment in the second entity and has control over that asset.


 



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