Commonwealth Consolidated Acts

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LIFE INSURANCE ACT 1995 - SECT 129

Related bodies corporate

    The question whether bodies corporate are related to each other for the purposes of this Part   is to be determined in the same way as the question whether bodies corporate are related to each other would be determined under the Corporations Act 2001 if, in section   46 of that Act:

  (a)   the reference to a body corporate that is in a position to cast, or control the casting of, more than one - half of the maximum number of votes that might be cast at a general meeting of another body corporate were a reference to a body corporate that is in a position to cast, or control the casting of, more than one - quarter of that number of votes; and

  (b)   the reference to a body corporate holding more than one - half of the issued share capital of another body corporate were a reference to a body corporate holding more than one - quarter of the issued share capital of another body corporate.



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