8A Meaning of influence or control
An entity is in a position to directly or indirectly influence or control an asset if:
the entity is in a position to exercise voting or veto rights in relation to the body that governs the asset; or
the entity is in a position to make decisions that materially impact on the running of, or strategic direction in relation to, the asset; or
the entity has the ability to appoint:
persons to the body that governs the asset; or
key personnel involved in running the asset; or
the entity is in a position to influence or determine decisions relating to:
the business plan, or any other management plan, for the asset; or
major expenditure relating to the asset; or
major contracts or transactions involving the asset; or
major loans involving the asset.
Note: For interests held by trusts, partnerships, superannuation funds and unincorporated foreign companies, see section 53A.
An entity (the controlling entity) is in a position to directly or indirectly influence or control another entity (the controlled entity) if the controlling entity:
is in a position to exercise voting or veto rights in relation to the controlled entity; or
is in a position to make decisions that materially impact on the running of, or strategic direction of, the controlled entity; or
has the ability to appoint persons to the board of the controlled entity; or
is in a position to influence or determine decisions relating to:
the business plan, or any other management plan, for the controlled entity; or
major expenditure relating to the controlled entity; or
major contracts or transactions involving the controlled entity; or
major loans involving the controlled entity; or
together with any associates of the controlling entity, holds an interest of at least 10% in the controlled entity (including if any of the interests are held jointly with one or more other entities).
This section does not limit when an entity is in a position to directly or indirectly influence or control an asset or other entity.