Western Australian Consolidated Acts Western Australian Consolidated Acts (1) In this Part,
unless the contrary intention appears —
body corporate does not include a corporation
sole;
dormant , in relation to a body corporate, has the
meaning given by section 75JAA;
licence has the meaning given to that term in
section 76B;
section 31B or 31C statement means a dutiable
statement lodged under section 31B or 31C;
shares includes stock;
vehicle has the meaning given to that term in
section 76B.
(1a) For the purposes
of this Part a section 31B or 31C statement is taken to have been
executed on the day on which the conveyance, transfer or assignment to which
it relates occurred.
(2) In this Part,
unless the contrary intention appears —
(a) 2
bodies corporate are associated if —
(i)
one of them beneficially owns (directly or indirectly) at
least 90% of the issued share capital of, and has voting control over, the
other; or
(ii)
a third body corporate beneficially owns (directly or
indirectly) at least 90% of the issued share capital of each body corporate
and has voting control over each body corporate;
(b) a
body corporate ( A ) has voting control over another body corporate ( B ) if A
is in a position to cast or control the casting of at least 90% of the maximum
number of votes that might be cast at a general meeting of B (excluding
any power to vote by any person by virtue of the provisions of any debentures
or a trust deed securing the issue of such debentures);
(c) if
the claw-back applies —
(i)
in the case of an instrument, section 75JE applies;
or
(ii)
in the case of a Part IIIBA statement, section 75JF
applies.
(3) In this Part,
other than section 75JA, unless the contrary intention
appears —
issued share capital means issued share capital
that carries the right to unlimited participation in the distribution of
income and capital of a body corporate or issued share capital to which
subsection (4) applies.
(4) This subsection
applies to issued share capital of a body corporate if the Commissioner is
satisfied —
(a) that
the body corporate is not carried on for the purposes of profit or gain to its
members;
(b) that
the issued share capital of the body corporate carries no right, or a limited
right, for its members to participate in the distribution of income and
capital of the body corporate; and
(c) that
the non-existence or limitation of that right is not part of an arrangement
having as its purpose, or one of its purposes, the reduction of duty that
might otherwise become payable.
[Section 75J inserted by No. 48 of 1996
s. 42; amended by No. 51 of 1997 s. 5; No. 29 of 2000
s. 5; No. 60 of 2000 s. 20(6); No. 10 of 2001 s. 170;
No. 36 of 2001 s. 19; No. 2 of 2003 s. 75; No. 66 of 2003
s. 48; No. 11 of 2005 s. 11.]