Document ID: chunk:federal_register_of_legislation:C2004A03231:body:0:p21
Version: federal_register_of_legislation:C2004A03231
Segment Type: other
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Character Range: 51926–54736

were provisions of section 233 of that Act and a reference in those sub-sections to a company were a reference to the target company; and
         (b) a reference to an excluded benefit is a reference to a prescribed benefit—
             (i) in relation to the giving of which sub-section 233 (2a) of that Act would apply; or

             (ii) that is a payment in relation to which paragraph (f) of the definition of 'exempt benefit' in sub-section 233 (7) of that Act would apply,
         if a reference in sub-section 233 (2a) of that Act, or in that definition, as the case may be, to a company were a reference to the target company.".

Further amendments relating to securities exchanges
28. The Principal Act is amended as set out in Schedule 1.

PART III—AMENDMENTS OF COMPANIES ACT 1981

Principal Act
29. The Companies Act 19812 is in this Part referred to as the Principal Act.

Interpretation
30. (1) Section 5 of the Principal Act is amended—
     (a) by omitting from paragraph (a) of the definition of "director" in sub-section (1) "and" (last occurring);
     (b) by adding at the end of the definition of "director" in sub-section (1) the following word and paragraph:
         "and (c) in the case of a foreign company—
             (i) a member of the committee of management, council or other governing body of the foreign company;
             (ii) any person occupying or acting in the position of member of the committee of management, council or other governing body of the foreign company, by whatever name called and whether or not validly appointed to occupy or duly authorised to act in the position; and
             (iii) any person in accordance with whose instructions the members of the committee of management, council or other governing body of the foreign company are accustomed to act;";
     (c) by omitting the definition of "home exchange" in sub-section (1);
     (d) by inserting after the definition of "official manager" in sub-section (1) the following definitions:
         " 'on', in relation to a stock market, includes at or by means of;

         'participation interest' means any right to participate, or any interest—
             (a) in any profits, assets or realisation of any financial or business undertaking or scheme whether in the Territory or elsewhere;
             (b) in any common enterprise, whether in the Territory or elsewhere, in relation to which the holder of the right or interest is led to expect profits, rent or interest from the efforts of the promoter of the enterprise or a third party; or
             (c) in any investment contract,
         whether or not the right or interest is enforceable, whether the right or interest is actual, prospective or contingent, whether or not the right or interest is evidenced by a formal