Document ID: chunk:federal_register_of_legislation:F2024C01235:reg:16
Version: federal_register_of_legislation:F2024C01235
Segment Type: reg
Provision Reference: reg 16
Character Range: 48826–49732

16  Meaning of direct interest in an entity or business
  For the definition of direct interest in section 4 of the Act, a direct interest in an entity or business is:
 (a) an interest of at least 10% in the entity or business; or
 (b) an interest of at least 5% in the entity or business if the person who acquires the interest has entered a legal arrangement relating to the businesses of the person and the entity or business; or
 (c) an interest of any percentage in the entity or business if the person who acquired the interest is in a position:
 (i) to influence or participate in the central management and control of the entity or business; or
 (ii) to influence, participate in or determine the policy of the entity or business.
Note: Section 16A of the Act defines interest of a specified percentage in a business. Section 17 of the Act defines interest of a specified percentage in an entity.