Document ID: chunk:federal_register_of_legislation:C2004A03762:body:0:p4
Version: federal_register_of_legislation:C2004A03762
Segment Type: other
Provision Reference: 
Character Range: 8202–10955

expressed, that expressly or impliedly invites a holder of such an interest to offer to dispose of that interest; and
            (iii) a reference to a person taking part in, or proposing to take part in, negotiations with a view to the acquisition of such an interest;";
     (g) by omitting subsection (7).

7. After section 5 of the Principal Act the following section is inserted:

Ordinarily resident non-citizens
"5a. (1) For the purposes of this Act, a natural person who is not an Australian citizen is ordinarily resident in Australia at a particular time if and only if:
     (a) the person has actually been in Australia during 200 or more days in the period of 12 months immediately preceding that time; and
     (b) at that time, either:
         (i) the person is in Australia and the person's continued presence in Australia is not subject to any limitation as to time imposed by law; or
         (ii) the person is not in Australia but, immediately before the person's most recent departure from Australia, the person's continued presence in Australia was not subject to any limitation as to time imposed by law.
"(2) For the purposes of paragraph (1) (b), but without otherwise limiting the generality of that paragraph, a person's continued presence in

Australia is subject to a limitation as to time imposed by law if the person is a prohibited non-citizen within the meaning of the Migration Act 1958".

Associates
8. Section 6 of the Principal Act is amended by inserting after paragraph (k) the following paragraphs:
      "(ka) the trustee of a trust estate in which the person holds a substantial interest;
      (kb) where the person is the trustee of a trust estate—a person who holds a substantial interest in the trust estate;".

Australian business
9. Section 7 of the Principal Act is amended:
     (a) by omitting paragraph (3) (a) and substituting the following paragraph:
         "(a) the Commonwealth, a State or a Territory;";
     (b) by omitting from paragraph (3) (b) "Australia" and substituting "the Commonwealth".

Substantial and controlling interests in corporations
10. Section 9 of the Principal Act is amended by omitting subsection (3).

11. After section 9 of the Principal Act the following section is inserted:

Substantial interests in trust estates
"9a. (1) For the purposes of this Act:
     (a) a person shall be taken to hold a substantial interest in a trust estate if the person, alone or together with an associate or associates, holds a beneficial interest in not less than 15% of the corpus or income of the trust estate; or
     (b) 2 or more persons shall be taken to hold an aggregate substantial interest in a trust estate if the persons, together with an associate or associates, hold,