Bankruptcy Act. Australia

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СКАЧАТЬ is owed a debt by the company; or

      (h) is employed, or is engaged under a contract for services, by the company; or

      (j) acts as agent for the company in any transaction or dealing; or

      (k) gives professional advice to the company.

      (2) For the purposes of this Act, a company is also associated with a person if the company:

      (a) holds property jointly with the person; or

      (b) is dealing with the person’s property as an agent for the person; or

      (c) is a trustee of a trust under which the person is capable of benefiting; or

      (d) acquires or disposes of property as a result of dealing with the person.

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

      5C Associated entities: natural persons

      (1) 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.

      (2) 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.

      (3) 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.

      5D Associated entities: partnerships

      For the purposes of this Act, a partnership is associated with a person if, and only if, the person:

      (a) is a partner in the partnership;

      (b) is able to control, or to influence materially, the partnership’s activities or internal affairs;

      (c) is financially interested in the partnership’s success or failure or apparent success or failure;

      (d) is a creditor of the partnership;

      (e) is employed, or is engaged under a contract for services, by the partnership;

      (f) acts as agent for the partnership in any transaction or dealing; or

      (g) gives professional advice to the partnership.

      5E Associated entities: trusts

      For the purposes of this Act, a trust is associated with a person if, and only if, the person:

      (a) is the settlor, or one of the settlors, of the trust;

      (b) has power under the terms of the trust to appoint or remove a trustee of the trust or to vary, or cause to be varied, any of the terms of the trust;

      (c) is a trustee of the trust;

      (d) is able to control, or to influence materially, the activities of the trustee of the trust;

      (e) if a trustee of the trust is a company — is a company officer of the company or otherwise is concerned, or takes part, in the company’s management;

      (f) is capable of benefiting under the trust;

      (g) is a creditor of the trustee of the trust;

      (h) is employed, or is engaged under a contract for services, by the trustee of the trust;

      (j) acts as agent for the trustee of the trust in any transaction or dealing; or

      (k) gives professional advice to the trustee of the trust.

      5F Controlling an entity in relation to a matter

      (1) Subject to this section, a person shall be taken, for the purposes of this Act, to control an entity at a particular time in relation to a matter if, and only if:

      (a) no act, omission or decision inconsistent with the person’s directions, instructions or wishes was; and

      (b) having regard to all the circumstances, it may reasonably be expected that no such act, omission or decision would have been;

      done or made at that time, in relation to the matter, by or on behalf of the entity.

      (2) A person shall not be taken to control an entity at a particular time in relation to a matter merely because:

      (a) no act, omission or decision inconsistent with advice given by the person in the proper performance of the functions attaching to his or her professional capacity, or to his or her business relationship with the entity, was; and

      (b) having regard to all the circumstances, it may reasonably be expected that no such act, omission or decision would have been;

      done or made at that time, in relation to that matter, by or on behalf of the entity.

      (3) A reference in subsection (1) or (2), in relation to a matter, to an act, omission or decision is a reference to an act, omission or decision that, having regard to the nature of that matter, is of substantial importance.

      (4) A person shall not be taken to control a company at a particular time in relation to a matter if the company is not a private company at that time.

      5G Financial affairs of a company

      For the purposes of this Act, a company’s financial affairs include:

      (a) the company’s promotion, formation, membership, control, operations and state of affairs;

      (b) the management and proceedings of the company;

      (c) any act or thing done (including any contract made and any transaction entered into) by or on behalf of the company, or to or in relation to the company or its business or property, at a time when:

      (i) a receiver, or a receiver and manager, is in possession of, or has control over, property of СКАЧАТЬ