Document ID: chunk:federal_register_of_legislation:C2024C00680:section:2:p1
Version: federal_register_of_legislation:C2024C00680
Segment Type: section
Provision Reference: s 2 (pt 1/3)
Character Range: 333495–336141

2  Definitions
 (1) In Part 3 and this Schedule, unless the contrary intention appears:
acquisition includes an agreement to acquire, but does not include:
 (a) an acquisition by will or by devolution by operation of law; or
 (b) an acquisition by way of enforcement of a loan security.
aggregate substantial interest, in relation to a trust estate, has the meaning given by clause 13.
arrangement has the meaning given by clause 4.
associate has the meaning given by clause 5.
child: without limiting who is a child of a person for the purposes of Part 3 and this Schedule, someone is the child of a person if he or she is a child of the person within the meaning of the Family Law Act 1975.
constituent document, in relation to a company, means:
 (a) the memorandum and articles of association of the company; or
 (b) any rules or other documents constituting the company or governing its activities.
direct control interest has the meaning given by clause 12.
director includes any person occupying the position of director of a company, by whatever name called.
discretionary trust means a trust where:
 (a) a person (who may include the trustee) is empowered (either unconditionally or on the fulfilment of a condition) to exercise any power of appointment or other discretion; and
 (b) the exercise of the power or discretion, or the failure to exercise the power or discretion, has the effect of determining, to any extent, either or both of the following:
 (i) the identities of those who may benefit under the trust;
 (ii) how beneficiaries are to benefit, as between themselves, under the trust.
foreign citizen means an individual who is not an Australian citizen.
foreign company means a company incorporated outside Australia.
foreign government body means:
 (a) a foreign State (within the meaning of the Foreign States Immunities Act 1985); or
 (b) a separate entity of such a foreign State (within the meaning of that Act).
foreign person means:
 (a) a foreign citizen not ordinarily resident in Australia; or
 (b) a foreign government body; or
 (c) a company where:
 (i) a foreign citizen not ordinarily resident in Australia; or
 (ii) a foreign government body; or
 (iii) a foreign company;
  holds a particular type of stake in the company of not less than 15%; or
 (d) a company where a group of 2 or more persons, each of whom is:
 (i) a foreign citizen not ordinarily resident in Australia; or
 (ii) a foreign government body; or
 (iii) a foreign company;
  holds, in total, a particular type of stake in the company of not less than 40%; or
 (e) the trustee of a trust estate in which:
 (i) a foreign citizen not ordinarily