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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)
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.