BANKRUPTCY ACT 1966

PART IA - INTERPRETATION  

SECTION 5C   ASSOCIATED ENTITIES: NATURAL PERSONS  

5C(1)   [Nature of association]  

For the purposes of this Act, a natural person (in this section called the associate ) is associated with another person if the other person:


(a) holds property jointly with the associate; or


(b) is a trustee of a trust under which the associate is capable of benefiting; or


(ba) can benefit under a trust of which the associate is a trustee; or


(c) is employed, or is engaged under a contract for services, by the associate; or


(d) acts as agent for the associate in any transaction or dealing; or


(da) is a principal for whom the associate acts as an agent; or


(e) is an attorney of the associate under a power of attorney; or


(f) has appointed the associate as the other person ' s attorney under a power of attorney; or


(g) gives professional advice to the associate; or


(h) is given professional advice by the associate.

5C(2)   [Association regarding property]  

A natural person (the associate ) is also associated with another person if the associate has acquired or disposed of property as a result of dealing with the other person.

5C(3)   [Limitations]  

The circumstances set out in subsections (1) and (2) are the only circumstances in which a natural person is associated with another person for the purposes of this Act.




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