Document ID: chunk:federal_register_of_legislation:C2005C00282:clause:3_73l:p2
Version: federal_register_of_legislation:C2005C00282
Segment Type: clause
Provision Reference: sch 3 cl 73L (pt 2/2)
Character Range: 98708–100089

or have more than a 50% interest in assets used in the partnership business (except assets that are leased to the partnership).

 (6) A partnership (the controller) controls another person if a partner in the controller, or 2 or more partners in the controller, have the right to receive more than 50% of the partnership net income, or have more than a 50% interest in assets used in the partnership business, and:
 (a) if the other person is a company—the same partner, or the same 2 or more partners, have the right to receive more than 50% of any distribution of income or capital by the company, or to exercise, or to control the exercise of, more than 50% of the voting power in the company; or
 (b) if the other person is a fixed trust estate—the same partner, or the same 2 or more partners, have the right to receive more than 50% of any distribution of income or capital by the trustee; or
 (c) if the other person is a trust estate that is not a fixed trust estate—a condition in a paragraph of subsection (4) is satisfied for the same partner, or the same 2 or more partners in relation to the trust estate; or
 (d) if the other person is a partnership—the same partner, or the same 2 or more partners, have the right to receive more than 50% of the partnership net income, or have more than a 50% interest in assets used in the partnership business, of the partnership.