Document ID: chunk:federal_register_of_legislation:F2024L00262:reg:6
Version: federal_register_of_legislation:F2024L00262
Segment Type: reg
Provision Reference: reg 6
Character Range: 3493–4430

6  Position of influence over a company
  Under subsection 5(2) of the Act, the following circumstances in which a person is taken to be in a position of influence over the Australian‑registered insurance company, for the purposes of paragraph (1)(b) of the Act, are determined:
 (a) the person, either alone or together with one or more associates, is in a position to control 15% or more of the voting power in the company; and
 (b) one or more directors of the company are accustomed, or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of the person acting alone, or acting together with one or more associates; and
 (c) the person has power, either acting alone or together with one or more associates, to appoint or remove a director of the company; and
 (d) the person is a director of the company; and
 (e) the person takes part in the management of the company.