Document ID: chunk:federal_register_of_legislation:C2010A00013:schedule:4:p5
Version: federal_register_of_legislation:C2010A00013
Segment Type: schedule
Provision Reference: sch 4 (pt 5/32)
Character Range: 15186–18007

economic interests of their respective shareholders through:
a)  the appointment of common (or almost identical) boards of directors, except where the effect of the relevant regulatory requirements prevents this;
b)  management of the operations of the two companies on a unified basis;
c) equalised distributions to shareholders in accordance with an equalisation ratio applying between the two companies, including in the event of a winding up of one or both of the companies;
d) the shareholders of both companies voting in effect as a single decision‑making body on substantial issues affecting their combined interests; and
e)  cross‑guarantees as to, or similar financial support for, each other's material obligations or operations, except where the effect of the relevant regulatory requirements prevents such guarantees or financial support.
7. Notwithstanding the other provisions of this Convention, a managed investment trust which receives income (including profits and gains) arising in New Zealand shall be treated, for the purposes of applying the Convention to such income, as an individual resident of Australia and as the beneficial owner of the income it receives, but only to the extent that residents of Australia are the owners of the beneficial interests in the managed investment trust.  However, if:
         a) the managed investment trust has its principal class of units listed on a stock exchange specified in subsubparagraph 1 l)(i) of Article 3 and is regularly traded on one or more recognised stock exchanges; or
         b) at least 80 per cent of the value of the beneficial interests in the managed investment trust is owned by residents of Australia,
the managed investment trust shall be treated as an individual resident of Australia and as the beneficial owner of all the income it receives.

Article 5
Permanent Establishment
1. For the purposes of this Convention, the term "permanent establishment" means a fixed place of business through which the business of the enterprise is wholly or partly carried on.
2. The term "permanent establishment" includes especially:
a) a place of management;
b) a branch;
c) an office;
d) a factory;
e) a workshop;
f) a mine, an oil or gas well, a quarry or any other place of extraction of natural resources; and
g) an agricultural, pastoral or forestry property.
3. A building site or a construction, installation or assembly project shall constitute a permanent establishment but only if it lasts more than 6 months.
4. Notwithstanding the provisions of paragraphs 1, 2 and 3, where an enterprise of a Contracting State:
a) performs services in the other Contracting State
(i)  through an individual who is present in that other State for a period or periods exceeding in the aggregate 183 days in any twelve month period, and more than 50