Document ID: chunk:federal_register_of_legislation:C2015A00150:clause:1_50
Version: federal_register_of_legislation:C2015A00150
Segment Type: clause
Provision Reference: sch 1 cl 50
Character Range: 68099–69085

50  Simplified outline of this Division

      Two important tests in determining whether an action is a significant action are whether the threshold test is met and whether there has been a change in control.
      For the threshold test to be met, a certain value must be above a threshold prescribed by the regulations. The value depends on the action taken.
      There is a change in control of an entity or business if the Treasurer is satisfied that one or more foreign persons begin to control the entity or business, or the foreign persons who currently control the entity or business change.
      One or more persons who hold a substantial interest or an aggregate substantial interest in an entity are taken to control the entity. Also, a person controls the entity if the person is in a position to determine the policy of the entity or business.
      There are broad powers for the regulations to prescribe thresholds under this Part.

Subdivision B—The threshold test