Document ID: chunk:federal_register_of_legislation:C2024C00844:section:4:p1
Version: federal_register_of_legislation:C2024C00844
Segment Type: section
Provision Reference: s 4 (pt 1/10)
Character Range: 23133–25980

4  Dictionary of definitions
  In this Act:
6 month period has the meaning given by subsection 113(3).
acquire an interest of a specified percentage:
 (a) in a business—has the meaning given by section 19A; and
 (b) in an entity—has the meaning given by section 20.
acquisition of property has the same meaning as in paragraph 51(xxxi) of the Constitution.
aggregate interest of a specified percentage in an entity has the meaning given by subsection 17(2).
aggregate substantial interest: 2 or more persons hold an aggregate substantial interest in an entity or trust if:
 (a) for an entity—the persons hold an aggregate interest of at least 40% in the entity; or
 (b) for a trust (including a unit trust)—the persons, together with any one or more associates of any of them hold, in the aggregate, beneficial interests in at least 40% of the income or property of the trust.
Note: See also sections 17 (meanings of interest and aggregate interest of a specified percentage in an entity) and 18 (rules relating to determining percentages of interests in entities).
agribusiness: an Australian entity or Australian business is an agribusiness in the circumstances prescribed by the regulations.
agricultural land means land in Australia that is used, or that could reasonably be used, for a primary production business.
Note: The regulations may provide that land of a specified kind is not agricultural land (see subsection 37(3)).
agricultural land corporation has the meaning prescribed by the regulations.
agricultural land trust has the meaning prescribed by the regulations.
ART Act means the Administrative Review Tribunal Act 2024.
asset includes an interest in an asset.
associate has the meaning given by section 6.
Australia, when used in a geographical sense, includes the external Territories.
Australian business has the meaning given by section 8.
Australian corporation means a corporation formed in Australia.
Australian entity means an Australian corporation or an Australian unit trust.
Australian land means agricultural land, commercial land, residential land or a mining or production tenement.
Australian land corporation has the meaning prescribed by the regulations.
Australian land trust has the meaning prescribed by the regulations.
Australian subsidiary of a foreign entity means an Australian entity that is a subsidiary of the foreign entity.
Note: For the definition of subsidiary, see section 21.
Australian unit trust means a unit trust:
 (a) the trustee of which holds relevant Australian assets; or
 (b) the trustee of which carries on an Australian business; or
 (c) the central management and control of which is in Australia; or
 (d) in which one or more persons who are ordinarily resident in Australia hold more than 50% of the beneficial interests in the income or property of the unit trust; or
 (e) that