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Contents (1987 - 70)
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Workers Compensation Act 1987 No 70
Current version for 25 March 2020 to date (accessed 10 April 2020 at 10:18)
Part 7 Division 2B Section 175P
175P   Primary groups arising from tracing of interests in corporations
(1)  An entity and a corporation form part of a primary group if the entity has a controlling interest in the corporation.
(2)  For the purposes of this section, an entity has a controlling interest in a corporation if the corporation has share capital and—
(a)  the entity has a direct interest in the corporation and the value of that direct interest exceeds 50%, or
(b)  the entity has an indirect interest in the corporation and the value of that indirect interest exceeds 50%, or
(c)  the entity has an aggregate interest in the corporation and the value of the aggregate interest exceeds 50%.
(3)  Schedule 2 has effect.
Note.
 Schedule 2 sets out the manner for determining whether an entity has a direct interest, indirect interest or aggregate interest in a corporation, and the value of such an interest.
(4)  In this section—
associated person has the meaning given by the Duties Act 1997.
entity means—
(a)  a person, or
(b)  a group of associated persons.