Queensland Consolidated Acts

LAND TAX ACT 2010 - SECT 18B

18B What is a foreign company

(1) Each of the following is a
"foreign company" —

(a) a corporation incorporated outside Australia;

(b) a corporation in which foreign persons have a controlling interest.

(2) A corporation is taken to be a corporation mentioned in subsection (1) (b) if, taking their interests together, 1 or more persons who are foreign persons or related persons of foreign persons—

(a) are in a position to control at least 50% of the voting power in the corporation; or

(b) are in a position to control at least 50% of the potential voting power in the corporation; or

(c) have an interest in at least 50% of the issued shares in the corporation.

(3) In this section—

"potential voting power" see the Foreign Acquisitions and Takeovers Act 1975 (Cwlth) , section 22 .

"voting power" see the Foreign Acquisitions and Takeovers Act 1975 (Cwlth) , section 22 .