Australian Capital Territory Current Acts

FIREARMS ACT 1996 - SECT 16

    (1)     For this Act, an entity is a close associate of a licensed firearms dealer if—

        (a)     the entity—

              (i)     holds or will hold a financial interest, or is or will be entitled to exercise a relevant power, in the dealer's business; and

              (ii)     is able, or will be able, to exercise significant influence in relation to the conduct of the business because of the interest or power; or

        (b)     the entity holds or will hold a relevant position in the dealer's business.

    (2)     In this section:

"exercise "a power includes exercise the power for someone else.

"financial interest", in relation to a business, means—

        (a)     a share in the capital of the business; or

        (b)     an entitlement to receive income derived from the business, however the entitlement arises.

"hold "a position includes hold the position for someone else.

"licensed firearms dealer" includes an applicant for a firearms dealer licence.

"power" means a power exercisable—

        (a)     by voting or otherwise; and

        (b)     alone or with others.

"relevant position", in a business, means a position (however described) whose holder takes part in the management of the business.

"relevant power", in relation to a business, means a power—

        (a)     to take part in a directorial, managerial or executive decision for the business; or

        (b)     to elect or appoint a person to a relevant position in the business.