Document ID: chunk:federal_register_of_legislation:C2025C00113:section:34:p1
Version: federal_register_of_legislation:C2025C00113
Segment Type: section
Provision Reference: s 34 (pt 1/5)
Character Range: 70019–72890

34  Related corporations
 (1) Subject to subsections (2) and (3), the question whether corporations are related to each other for the purposes of this Act is to be determined in the same manner as the question whether bodies corporate are related to each other is determined under the Corporations Act 2001.
 (2) A corporation is not taken for the purposes of this Act to be related to another corporation (not being a corporation that carries on in Australia a business, whether or not that business is its sole or principal business, of selling goods by retail) unless the first‑mentioned corporation is a foreign corporation, a trading corporation formed within the limits of Australia or a financial corporation so formed and:
 (a) the sole or principal business activities in Australia of the first‑mentioned corporation are the borrowing of money and the provision of finance; or
 (b) the sum of the amounts of such of the assets in Australia of the first‑mentioned corporation as consist of debts due to that corporation, being debts resulting from transactions entered into in the course of the provision of finance by that corporation, exceeds:
 (i) 50%; or
 (ii) if a greater or lesser percentage is prescribed by the regulations—the percentage so prescribed;
  of the sum of the values of all the assets in Australia of that corporation.
 (3) A corporation is not taken for the purposes of this Act to be related to another corporation (being a corporation that carries on in Australia a business, whether or not that business is its sole or principal business, of selling goods by retail) unless the first‑mentioned corporation:
 (a) is a foreign corporation, a trading corporation formed within the limits of Australia or a financial corporation so formed; and
 (b) engages in the provision of finance in the course of carrying on in Australia a business, whether or not that business is its sole or principal business, of selling goods by retail.

Endnotes

Endnote 1—About the endnotes
The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history

Abbreviation key—Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at