Document ID: chunk:federal_register_of_legislation:C2025C00014:section:353
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 353
Character Range: 1930037–1931068

353  Control tracing interest in a company
 (1) Subject to this section, an entity (in this subsection called the lower entity) holds a control tracing interest in a company at a particular time equal to the direct control interest in the company that the lower entity holds at that time.
 (2) An entity (in this subsection called the lower entity) holds a control tracing interest in a company at a particular time equal to 100% if:
 (a) the aggregate of the direct control interests in the company held at that time by the lower entity and its associates is not less than 50%; or
 (b) both of the following conditions are satisfied:
 (i) the aggregate of the direct control interests in the company held at that time by the lower entity and its associates is not less than 40%;
 (ii) at that time, the company is not controlled by a group of entities not being or including the lower entity or any of its associates; or
 (c) at that time, the company is controlled by the lower entity, either alone or together with associates.