Document ID: chunk:federal_register_of_legislation:C2004A00897:clause:1_2:p5
Version: federal_register_of_legislation:C2004A00897
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 5/6)
Character Range: 182353–184989

that other entity in relation to the first entity's financial affairs, whether those directions, instructions or wishes are, or might reasonably be expected to be, communicated directly or through interposed entities.

 (2A) An entity (the first entity), in its capacity as the *responsible entity of a *registered scheme at a particular time, is an associate entity of another entity at that time if the first entity, in that capacity, is an *associate of that other entity at that time and at least one of the following paragraphs applies at that time:
 (a) that other entity holds an *associate interest of 50% or more in the registered scheme (see subsections (4) to (8));
 (b) that other entity holds an associate interest of 20% or more in the registered scheme and the first entity, in that capacity, is accustomed or under an obligation (whether formal or informal), or might reasonably be expected, to act in accordance with the directions, instructions or wishes of that other entity in relation to:
 (i) the distribution or retention of the profits of the registered scheme; or
 (ii) the financial policies relating to the assets, *debt capital or *equity capital of the registered scheme;
  whether those directions, instructions or wishes are, or might reasonably be expected to be, communicated directly or through interposed entities.

Note: The first entity, in another capacity, may also be an associate entity of an entity under another provision of this section (see also section 960‑100).

 (3) Subsection (1) or (2A) also has effect as if the first entity satisfies paragraph (b) of that subsection at a particular time if any of the following is expected to act in the manner mentioned in that paragraph at that time:
 (a) a director of the first entity if it is a company;
 (b) a partner of the first entity if it is a partnership;
 (c) the *general partner of the first entity if it is a *corporate limited partnership;
 (d) the trustee of the first entity if it is a trust;
 (e) a member of the first entity's committee of management if it is an unincorporated association or body.

 (3A) If:
 (a) an entity (the first entity) is an *associate entity of another entity (the head entity) under subsection (1), (2), (2A) or (3) at a particular time; and
 (b) a third entity is also an associate entity of the head entity under subsection (1), (2), (2A) or (3) at that time;
the first entity is an associate entity of the third entity at that time.

 (3B) If an entity (the first entity) is an *associate entity of another entity under subsection (1), (2), (2A), (3) or (3A) at a particular time, that other entity