Document ID: chunk:federal_register_of_legislation:C2005A00147:clause:1_160znra
Version: federal_register_of_legislation:C2005A00147
Segment Type: clause
Provision Reference: sch 1 cl 160ZNRA
Character Range: 6291–8623

160ZNRA  Companies in liquidation

 (1) For the purposes of a test, an entity is not prevented from:
 (a) beneficially owning shares in a company; or
 (b) having the right to exercise, controlling, or being able to control, voting power in a company; or
 (c) having the right to receive any dividends that a company may pay; or
 (d) having the right to receive any distribution of capital of a company;
merely because:
 (e) the company is or becomes:
 (i) an externally‑administered body corporate within the meaning of the Corporations Law (as set out in section 82 of the Corporations Act 1989); or
 (ii) an entity with a similar status, under the Companies Code of the relevant State or a foreign law, to an externally‑administered body corporate; or
 (f) either:
 (i) a provisional liquidator is appointed to the company under section 472 of the Corporations Law (as set out in section 82 of the Corporations Act 1989); or
 (ii) a person with a similar status, under the Companies Code of the relevant State or a foreign law, to a provisional liquidator is appointed to the company.

 (2) For the purposes of a test, a company (the stakeholding company) is not prevented from:
 (a) beneficially owning shares in another company, or any other interest in another entity; or
 (b) having the right to exercise, controlling, or being able to control, voting power in another company or any other entity; or
 (c) having the right to receive any dividends that another company or any other entity may pay; or
 (d) having the right to receive any distribution of capital of another company or any other entity;
merely because:
 (e) the stakeholding company is or becomes:
 (i) an externally‑administered body corporate within the meaning of the Corporations Law (as set out in section 82 of the Corporations Act 1989); or
 (ii) an entity with a similar status, under the Companies Code of the relevant State or a foreign law, to an externally‑administered body corporate; or
 (f) either:
 (i) a provisional liquidator is appointed to the stakeholding company under section 472 of the Corporations Law (as set out in section 82 of the Corporations Act 1989); or
 (ii) a person with a similar status, under the Companies Code of the relevant State or a foreign law, to a provisional liquidator is appointed to the stakeholding company.