Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.5.04

Meaning of excluded person

             (1)  For this Part, an excluded person , in relation to a participant of a participating market licensee, or a participant of the licensed CS facility operated by ACH, means:

                     (a)  in any case--the participant; or

                     (b)  if the participant is not a body corporate:

                              (i)  a person who is the spouse, or who is a relative, of the participant; or

                             (ii)  a trustee of a trust in relation to which the participant or a person of a kind mentioned in subparagraph (i) is capable of benefiting; or

                            (iii)  a body corporate of which the participant is an officer; or

                            (iv)  a body corporate in which the participant or a person of a kind mentioned in subparagraph (i) has a controlling interest; or

                             (v)  a body corporate in which the participant, and a person of a kind mentioned in subparagraph (i) have a controlling interest; or

                            (vi)  a body corporate in which the participant and 2 or more persons of a kind mentioned in subparagraph (i) have a controlling interest; or

                           (vii)  a body corporate in which 2 or more persons of a kind mentioned in subparagraph (i) together have a controlling interest; or

                     (c)  if the participant is:

                              (i)  a person who is an officer of the body corporate; or

                             (ii)  a body corporate that is related to the first-mentioned body corporate; or

                            (iii)  a person who is the spouse, or who is a relative, of a person of a kind mentioned in subparagraph (i); or

                            (iv)  a trustee of a trust in relation to which a person of a kind mentioned in subparagraph (i) or (iii) is capable of benefiting; or

                             (v)  a body corporate in which a person of a kind mentioned in subparagraph (i) or (iii) has, or 2 or more such persons together have, a controlling interest; or

                     (d)  if the participant is a partner in a participant of the participating market licensee or licensed CS facility and is not a body corporate:

                              (i)  a person who is a partner in the participant; or

                             (ii)  a person who is the spouse, or who is a relative, of a partner (not being a body corporate) in the participant; or

                            (iii)  a trustee of a trust in relation to which a person of a kind mentioned in subparagraph (i) or (ii) is capable of benefiting; or

                            (iv)  a person who is an officer of a body corporate that is a partner in the participant; or

                             (v)  a body corporate of which a person of a kind mentioned in subparagraph (i), (ii) or (iii) is an officer, or in which such a person has, or 2 or more such persons together have, a controlling interest; or

                            (vi)  a person who is a participant of the licensed CS facility operated by ACH; or

                     (e)  if the participant is a partner in a participant of the participating market licensee or licensed CS facility and is a body corporate:

                              (i)  a person who is an officer of a body corporate that is a partner in the participant; or

                             (ii)  a body corporate that is related to the first-mentioned body corporate; or

                            (iii)  a person who is a partner in the participant; or

                            (iv)  a person who is the spouse, or who is a relative, of a person (other than a body corporate) of a kind mentioned in subparagraph (i) or (iii); or

                             (v)  a trustee of a trust in relation to which a person of a kind mentioned in subparagraph (i), (iii) or (iv) is capable of benefiting; or

                            (vi)  a body corporate in which a person of a kind mentioned in subparagraph (i), (iii) or (iv) has, or 2 or more such persons together have, a controlling interest; or

                           (vii)  a person who is a participant of the licensed CS facility operated by ACH.

             (2)  A reference in subregulation (1) or (1A) to a relative of a person includes a reference to a relative of the spouse (if any) of the person.

             (3)  A reference in subregulation (1) or (1A) to an officer of a body corporate is a reference to:

                     (a)  a director, secretary or executive officer of the body corporate; or

                     (b)  a person who is an officer of the body corporate by virtue of paragraph (b), (c), (d) or (e) of the definition of officer in section 9 of the Act.



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