THE CORPORATIONS LAW

CHAPTER 1 - INTRODUCTORY

PART 1.2 - INTERPRETATION

Division 2 - Associates

SECTION 12   MATTERS RELATING TO VOTING SHARES  

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12(1)  (Relevant agreement)  

If the associate reference relates to:

(a)  the extent of a power to exercise, or to control the exercise of, the voting power attached to voting shares in a body corporate;

(b)  the primary person's voting power in a body corporate; or

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(c)  a takeover bid for securities in a body corporate;

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it includes a reference to a person with whom the primary person has, or proposes to enter into, a relevant agreement:

(d)  because of which one of those persons has or will have power (even if it is in any way qualified):

(i) to exercise;
(ii) to control, directly or indirectly, the exercise of; or
(iii) to influence substantially the exercise of;

any voting power attached to shares in the body;

(e)  for the purpose of controlling or influencing:

(i) the composition of the body's board; or
(ii) the conduct of affairs of the body;

(f)  under which one of those persons:

(i) will or may acquire; or
(ii) may be required by the other to acquire;

shares in the body in which the other has a relevant interest; or

(g)  under which one of those persons may be required to dispose of shares in the body in accordance with the other's directions;

whatever other effect the relevant agreement may have.

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12(2)  (Two-way association)  

In relation to a matter relating to shares in a body corporate, a person may be an associate of the body and the body may be an associate of a person.

 

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