New South Wales Consolidated Acts

FIREARMS ACT 1996 - SECT 4B

4B Meaning of "close associate" of firearms dealer

(1) For the purposes of this Act, a person is a
"close associate" of an applicant for, or the holder of, a firearms dealer licence if the person--

(a) holds or will hold any relevant financial interest, or is or will be entitled to exercise any relevant power (whether in his or her own right or on behalf of any other person), in the business of the licence applicant or licence holder, and by virtue of that interest or power is or will be able to exercise a significant influence over or with respect to the conduct of that business, or

(b) holds or will hold any relevant position, whether in his or her own right or on behalf of any other person, in the business of the licence applicant or licence holder.

(2) In this section--

"relevant financial interest" , in relation to a business, means--

(a) any interest in the capital or assets of the business, or

(b) any entitlement to receive any income derived from the business, whether the entitlement arises at law or in equity or otherwise.

"relevant position" , in relation to a business, means a position whose holder participates in the management of the business (whether in the capacity of a director, manager or secretary or in any other capacity).

"relevant power" means any power, whether exercisable by voting or otherwise and whether exercisable alone or in association with others--

(a) to participate in any managerial or executive decision, or

(b) to elect or appoint any person to any relevant position.