Document ID: chunk:federal_register_of_legislation:F2005B02046:body:0:p2
Version: federal_register_of_legislation:F2005B02046
Segment Type: other
Provision Reference: 
Character Range: 2530–4092

to exercise control (other than in the person's capacity as an official director).

 (2) In these Directions, each of the following is a relevant person:
 (a) the Chairperson of the TSRA;
 (b) the TSRA General Manager;
 (c) a member of the staff of the TSRA who is:
 (i) required to assist the TSRA in the performance of its functions; and
 (ii) engaged under the Public Service Act 1999; and
 (iii) a delegate of the TSRA or a sub-delegate of the TRSA General Manager.

 (3) Subparagraph (d) (ii) of the definition of director in subsection (1) does not apply merely because the directors act on advice given by the person in the proper performance of functions attaching to the person's professional capacity, or the person's business relationship with the formal directors or the body corporate.

Note   Other terms defined or used in the Act have the same meaning in these Directions (see Acts Interpretation Act 1901).  These include the following:
 TSRA
 Chairperson of the TSRA
 TSRA General Manager.

4 Grants and loans

  The TSRA must not, under subsection 142F (1) of the Act:
 (a) make a grant of money to a related body corporate; or
 (b) grant an interest in land to a related body corporate; or
 (c) grant an interest in personal property to a related body corporate; or
 (d) make a loan of money (whether secured or unsecured) to a related body corporate.

5 Guarantees

  The TSRA must not, under subsection 142G (1) of the Act, guarantee the due payment of money (including interest) payable by a borrower that is a related body corporate.