Western Australian Numbered Acts Western Australian Numbered Acts (1) This section
applies where it is necessary to determine in relation to an acquisition of an
interest in an entity (the "main entity” ) whether there is any other
entity that is linked to the entity for the purposes of section 155(2)(a)
or (3)(a).
(2) Each entity (a"
linked entity") below the main entity in an ownership chain that exists
immediately before the acquisition is linked to the main entity.
(3) An ownership chain
exists if a series of entities starting with the main entity are successively
linked to one another.
(4) Except where
subsection (5) or (6) applies, an entity is linked to another entity
if —
(a)
where the other entity is a listed corporation or a listed unit trust
scheme — it has a 90% interest, or a greater interest, in the
entity; or
(b) in
any other case — it has a 50% interest, or a greater interest, in
the entity.
(5) An entity is
linked to the trustee of a discretionary trust if it is a potential
beneficiary under the trust.
(6) An entity is
linked to a partnership if it is a partner in the partnership, or in the case
of a unit trust scheme the trustee, as trustee of the scheme, is a partner,
and —
(a) has
contributed or is required to contribute 50%, or a greater percentage, of the
capital of the partnership; or
(b) is
required to bear 50%, or a greater percentage, of the losses of the
partnership.
(7) A series of
entities under subsection (3) may consist of the main entity and one
other entity to which it is linked as mentioned in
subsection (4), (5) or (6).