Document ID: chunk:federal_register_of_legislation:C2025C00014:section:318:p1
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 318 (pt 1/4)
Character Range: 1850604–1853304

318  Associates
 (1) For the purposes of this Part, the following are associates of an entity (in this subsection called the primary entity) that is a natural person (otherwise than in the capacity of trustee):
 (a) a relative of the primary entity;
 (b) a partner of the primary entity or a partnership in which the primary entity is a partner;
 (c) if a partner of the primary entity is a natural person otherwise than in the capacity of trustee—the spouse or a child of that partner;
 (d) a trustee of a trust where the primary entity, or another entity that is an associate of the primary entity because of another paragraph of this subsection, benefits under the trust;
 (e) a company where:
 (i) the company is sufficiently influenced by:
 (A) the primary entity; or
 (B) another entity that is an associate of the primary entity because of another paragraph of this subsection; or
 (C) another company that is an associate of the primary entity because of another application of this paragraph; or
 (D) 2 or more entities covered by the preceding sub‑subparagraphs; or
 (ii) a majority voting interest in the company is held by:
 (A) the primary entity; or
 (B) the entities that are associates of the primary entity because of subparagraph (i) of this paragraph and the preceding paragraphs of this subsection; or
 (C) the primary entity and the entities that are associates of the primary entity because of subparagraph (i) of this paragraph and because of the preceding paragraphs of this subsection.
 (2) For the purposes of this Part, the following are associates of a company (in this subsection called the primary entity):
 (a) a partner of the primary entity or a partnership in which the primary entity is a partner;
 (b) if a partner of the primary entity is a natural person otherwise than in the capacity of trustee—the spouse or a child of that partner;
 (c) a trustee of a trust where the primary entity, or another entity that is an associate of the primary entity because of another paragraph of this subsection, benefits under the trust;
 (d) another entity (in this paragraph called the controlling entity) where:
 (i) the primary entity is sufficiently influenced by:
 (A) the controlling entity; or
 (B) the controlling entity and another entity or entities; or
 (ii) a majority voting interest in the primary entity is held by:
 (A) the controlling entity; or
 (B) the controlling entity and the entities that, if the controlling entity were the primary entity, would be associates of the controlling entity because of subsection (1), because of subparagraph (i) of this paragraph, because of another paragraph of this subsection or because of subsection (3);
 (e) another