Document ID: chunk:federal_register_of_legislation:C2025C00045:section:8a
Version: federal_register_of_legislation:C2025C00045
Segment Type: section
Provision Reference: s 8A
Character Range: 64602–66751

8A  Meaning of influence or control
 (1) An entity is in a position to directly or indirectly influence or control an asset if:
 (a) the entity is in a position to exercise voting or veto rights in relation to the body that governs the asset; or
 (b) the entity is in a position to make decisions that materially impact on the running of, or strategic direction in relation to, the asset; or
 (c) the entity has the ability to appoint:
 (i) persons to the body that governs the asset; or
 (ii) key personnel involved in running the asset; or
 (d) the entity is in a position to influence or determine decisions relating to:
 (i) the business plan, or any other management plan, for the asset; or
 (ii) major expenditure relating to the asset; or
 (iii) major contracts or transactions involving the asset; or
 (iv) major loans involving the asset.
Note: For interests held by trusts, partnerships, superannuation funds and unincorporated foreign companies, see section 53A.
 (2) An entity (the controlling entity) is in a position to directly or indirectly influence or control another entity (the controlled entity) if the controlling entity:
 (a) is in a position to exercise voting or veto rights in relation to the controlled entity; or
 (b) is in a position to make decisions that materially impact on the running of, or strategic direction of, the controlled entity; or
 (c) has the ability to appoint persons to the board of the controlled entity; or
 (d) is in a position to influence or determine decisions relating to:
 (i) the business plan, or any other management plan, for the controlled entity; or
 (ii) major expenditure relating to the controlled entity; or
 (iii) major contracts or transactions involving the controlled entity; or
 (iv) major loans involving the controlled entity; or
 (e) together with any associates of the controlling entity, holds an interest of at least 10% in the controlled entity (including if any of the interests are held jointly with one or more other entities).
 (3) This section does not limit when an entity is in a position to directly or indirectly influence or control an asset or other entity.