South Australian Consolidated Acts South Australian Consolidated Acts (1) In this Act,
unless the contrary intention appears—
"close associate"—see subsection (2);
"Commissioner" means the Commissioner for Consumer Affairs;
"conveyancer" means a person, other than a legal practitioner, who carries on
a business that consists of or involves the preparation of
conveyancing instruments for fee or reward;
"conveyancing instrument" means an instrument as defined in the
Real Property Act 1886 ;
"Court" means the Administrative and Disciplinary Division of the District
Court of South Australia;
"director" of a company includes—
(a) a
person occupying or acting in the position of director of the company, by
whatever name called and whether or not validly appointed to occupy or duly
authorised to act in the position; and
(b) any
person in accordance with whose directions or instructions the directors of
the company are accustomed to act;
"domestic partner" means a person who is a domestic partner within the meaning
of the Family Relationships Act 1975 , whether declared as such under
that Act or not;
"indemnity fund" means the indemnity fund maintained under Part 3 of the Land
Agents Act 1994 ;
"land" includes an interest in land;
"legal practitioner" has the same meaning as in the Legal Practitioners
Act 1981 ;
"money" includes an instrument for the payment of money that may be negotiated
by an ADI;
"mortgage" means a legal or equitable mortgage over land;
"mortgage financing" means negotiating or arranging loans secured by mortgage
including receiving or dealing with payments under such transactions;
"prescribed relative", in relation to a person, means a spouse,
domestic partner, parent, child or grandchild of the person;
"spouse"—a person is the spouse of another if they are legally married.
(2) Subject to
subsection (3), 2 persons are "close associates if—
(a) they
are in partnership; or
(b) they
are related bodies corporate (within the meaning of the
Corporations Act 2001 of the Commonwealth); or
(c) one
is a body corporate and the other is a director, manager, secretary or public
officer of the body corporate; or
(d) one
is a body corporate (other than a public company whose shares are quoted on a
prescribed financial market) and the other is a shareholder in the body
corporate; or
(e) one
is a body corporate whose shares are quoted on a prescribed financial market
and the other is a substantial shareholder (within the meaning of the
Corporations Act 2001 of the Commonwealth) in the body corporate; or
(f) one
has a right to participate (otherwise than as a shareholder in a body
corporate) in income or profits derived from a business conducted by the
other; or
(g) one
is in a position to exercise control or significant influence over the conduct
of the other; or
(h) they
fall within a class of persons prescribed by the regulations for the purposes
of this subsection; or
(i)
a chain of relationships can be traced between them under
any one or more of the above paragraphs.
(3) The Governor may,
by regulation, exclude classes of persons from the ambit of
subsection (2).
(4) In
subsection (2)—
"prescribed financial market" means a prescribed financial market within the
meaning of section 9 of the Corporations Act 2001 of the Commonwealth.