Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p8
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 8/46)
Character Range: 3073584–3076239

to control (whether directly, or indirectly through one or more interposed entities), any of the voting power in the company; and
 (ii) to have any rights to receive for the deceased's own benefit (whether directly or *indirectly) any *dividends that the company may pay; and
 (iii) to have any rights to receive for the deceased's own benefit (whether directly or indirectly) any distributions of capital of the company.

165‑207  Trustees of family trusts
 (1) This section applies if one or more trustees of a *family trust:
 (a) owns *shares in a company; or
 (b) controls, or is able to control, (whether directly, or indirectly through one or more interposed entities) voting power in a company; or
 (c) has a right to receive (whether directly, or *indirectly through one or more interposed entities) a percentage of a *dividend or a distribution of capital of a company.
 (2) For the purposes of a primary test, a single notional entity that is a person (but is neither a company nor a trustee) is taken to own the *shares beneficially.
Note: For a primary test, see subsections 165‑150(1), 165‑155(1) and 165‑160(1).
 (3) For the purposes of an alternative test, a single notional entity that is a person (but is neither a company nor a trustee) is taken:
 (a) to control, or have the ability to control, the voting power in the company; or
 (b) to have the right to receive (whether directly or *indirectly) the percentage of the *dividend or distribution for the entity's own benefit.
Note: For an alternative test, see subsections 165‑150(2), 165‑155(2) and 165‑160(2).
 (4) If a trustee of the trust is subsequently replaced by another trustee of the trust, the same single notional entity is taken:
 (a) to own the *shares beneficially; or
 (b) to control, or have the ability to control, the voting power in the company; or
 (c) to have the right to receive (whether directly or *indirectly) the percentage of the *dividend or distribution for the entity's own benefit.

165‑208  Companies in liquidation etc.
 (1) For the purposes of a primary test or an alternative test, an entity is not prevented from:
 (a) beneficially owning *shares in a company; or
 (b) having the right to exercise, controlling, or being able to control, voting power in a company; or
 (c) having the right to receive any *dividends that a company may pay; or
 (d) having the right to receive any distribution of capital of a company;
merely because:
 (e) the company is or becomes:
 (i) a Chapter 5 body corporate within the meaning of the Corporations Act 2001; or
 (ii) an entity with a similar status under a *foreign law to a Chapter 5 body corporate; or
 (f)