Foreign Acquisitions and Takeovers Regulation 2015 (Cth)

PART 2 - PROVISIONS RELATING TO DEFINITIONS AND RULES OF INTERPRETATION  

SECTION 16  

16   MEANING OF DIRECT INTEREST IN AN ENTITY OR BUSINESS  
For the definition of direct interest in section 4 of the Act, a direct interest in an entity or business is:

(a)    an interest of at least 10% in the entity or business; or

(b)    an interest of at least 5% in the entity or business if the person who acquires the interest has entered a legal arrangement relating to the businesses of the person and the entity or business; or

(c)    an interest of any percentage in the entity or business if the person who acquired the interest is in a position:

(i) to influence or participate in the central management and control of the entity or business; or

(ii) to influence, participate in or determine the policy of the entity or business.

Note: Section 16A of the Act defines interest of a specified percentage in a business. Section 17 of the Act defines interest of a specified percentage in an entity.