New Zealand Legislation: Acts

8A Meanings of associated and associated person

• (1) For the purposes of this Act, one person (A) is associated with another person (B),—

  • (a) if A is connected to B by blood relationship, marriage, or adoption or where A is a trustee for B, and for the purposes of this paragraph—

    • (i) persons are connected by blood relationship if they are within the fourth degree of relationship:

    • (ii) persons are connected by marriage if one person is married to the other person or to a person who is connected by blood relationship to the other person, or if one person has a relationship in the nature of marriage with the other person or with a person who is connected by blood relationship to the other person (whether or not the parties to the relationship are of the same or different sex):

    • (iii) persons are connected by adoption if one person has been adopted as the child of the other person or as a child of a person who is within the third degree of relationship to the other person:

  • (b) in the case where B is a company, if A is a director or officer of B, or is associated (within the meaning of paragraph (a)) with a director or officer of B, or is directly or indirectly able to exercise control over the affairs of B:

  • (c) in the case where A is a company, if B is a director or officer of A, or is associated (within the meaning of paragraph (a)) with a director or officer of A, or is directly or indirectly able to exercise control over the affairs of A:

  • (d) in the case where both A and B are companies,—

    • (i) if A is a holding company or subsidiary of B within the meaning of section 5 of the Companies Act 1993; or

    • (ii) if A owns or controls shares that in aggregate carry the right to exercise or control the exercise of 20% or more of the voting power at meetings of B; or

    • (iii) if B owns or controls shares that in aggregate carry the right to exercise or control the exercise of 20% or more of the voting power at meetings of A; or

    • (iv) if A and B have the same holding company within the meaning of section 5 of the Companies Act 1993; or

    • (v) if a third person owns or controls shares in each of them that carry the right to exercise or control the exercise of 20% or more of the voting power at meetings of each of them.

  (2) Associated person has a corresponding meaning.

  Section 8A: inserted, on 25 August 2005, by section 75 of the Overseas Investment Act 2005 (2005 No 82).