Document ID: chunk:federal_register_of_legislation:C2025C00157:section:50:p2
Version: federal_register_of_legislation:C2025C00157
Segment Type: section
Provision Reference: s 50 (pt 2/2)
Character Range: 157940–159341

the two bodies corporate are related to each other and:
 (a) the first‑mentioned body corporate is a general insurer or authorised NOHC; or
 (b) either of those bodies corporate is, or has directors who are, accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of the other body corporate or of its directors;
and references in this Part to a body corporate having been associated with another body corporate shall be construed accordingly.
 (3) The question whether bodies corporate are related to each other for the purposes of this Part is to be determined in the same way as the question whether bodies corporate are related to each other would be determined under the Corporations Act 2001 if, in section 46 of that Act:
 (a) the reference to a body corporate that is in a position to cast, or control the casting of, more than one‑half of the maximum number of votes that might be cast at a general meeting of another body corporate were a reference to a body corporate that is in a position to cast, or control the casting of, more than one‑quarter of that number of votes; and
 (b) the reference to a body corporate holding more than one‑half of the issued share capital of another body corporate were a reference to a body corporate holding more than one‑quarter of the issued share capital of another body corporate.