{"type":"doc","content":[{"type":"section","attrs":{"id":"navPoint_12"},"content":[{"type":"heading","attrs":{"id":"v0-p-953","level":5},"content":[{"type":"text","text":"8","marks":[{"type":"bold"}]},{"type":"text","text":"  ","marks":[{"type":"bold"}]},{"type":"text","text":"Meaning of ","marks":[{"type":"bold"}]},{"type":"text","text":"direct interest holder","marks":[{"type":"bold"},{"type":"italic"}]}]},{"type":"legalList","attrs":{},"content":[{"type":"legalListItem","attrs":{"marker":"(1)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-954"},"content":[{"type":"text","text":"An entity is a "},{"type":"text","text":"direct interest holder","marks":[{"type":"bold"},{"type":"italic"}]},{"type":"text","text":" in relation to an asset if the entity:"}]},{"type":"legalList","attrs":{},"content":[{"type":"legalListItem","attrs":{"marker":"(a)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-955"},"content":[{"type":"text","text":"together with any associates of the entity, holds an interest of at least 10% in the asset (including if any of the interests are held jointly with one or more other entities); or"}]}]},{"type":"legalListItem","attrs":{"marker":"(b)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-956"},"content":[{"type":"text","text":"holds an interest in the asset that puts the entity in a position to directly or indirectly"},{"type":"text","text":" ","marks":[{"type":"italic"}]},{"type":"text","text":"influence or control the asset."}]}]}]},{"type":"paragraph","attrs":{"id":"v0-p-957"},"content":[{"type":"text","text":"Note:"},{"type":"text","text":" "},{"type":"text","text":"For interests held by trusts, partnerships, superannuation funds and unincorporated foreign companies, see section"},{"type":"text","text":" "},{"type":"text","text":"53A."}]}]}]},{"type":"heading","attrs":{"id":"v0-p-958","level":6},"content":[{"type":"text","text":"Exemption for moneylenders etc.","marks":[{"type":"italic"}]}]},{"type":"legalList","attrs":{},"content":[{"type":"legalListItem","attrs":{"marker":"(2)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-959"},"content":[{"type":"text","text":"Subsection"},{"type":"text","text":" "},{"type":"text","text":"(1) does not apply to an interest in an asset held by an entity if:"}]},{"type":"legalList","attrs":{},"content":[{"type":"legalListItem","attrs":{"marker":"(a)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-960"},"content":[{"type":"text","text":"the entity holds the interest in the asset:"}]},{"type":"legalList","attrs":{},"content":[{"type":"legalListItem","attrs":{"marker":"(i)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-961"},"content":[{"type":"text","text":"solely by way of security for the purposes of a moneylending agreement; or"}]}]},{"type":"legalListItem","attrs":{"marker":"(ii)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-962"},"content":[{"type":"text","text":"solely as a result of enforcing a security for the purposes of a moneylending agreement; and"}]}]}]}]},{"type":"legalListItem","attrs":{"marker":"(b)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-963"},"content":[{"type":"text","text":"the entity is:"}]},{"type":"legalList","attrs":{},"content":[{"type":"legalListItem","attrs":{"marker":"(i)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-964"},"content":[{"type":"text","text":"the entity (the "},{"type":"text","text":"first entity","marks":[{"type":"bold"},{"type":"italic"}]},{"type":"text","text":") that entered into the moneylending agreement; or"}]}]},{"type":"legalListItem","attrs":{"marker":"(ii)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-965"},"content":[{"type":"text","text":"a subsidiary or holding entity of the first entity; or"}]}]},{"type":"legalListItem","attrs":{"marker":"(iii)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-966"},"content":[{"type":"text","text":"a person who is (alone or with others) in a position to determine the investments or policy of the first entity; or"}]}]},{"type":"legalListItem","attrs":{"marker":"(iv)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-967"},"content":[{"type":"text","text":"a security trustee who holds or acquires the interest on behalf of the first entity; or"}]}]},{"type":"legalListItem","attrs":{"marker":"(v)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-968"},"content":[{"type":"text","text":"a receiver, or a receiver and manager, appointed by, or appointed on instructions from, a person or entity mentioned in any of subparagraphs"},{"type":"text","text":" "},{"type":"text","text":"(i) to (iv)."}]}]}]}]}]}]},{"type":"legalListItem","attrs":{"marker":"(3)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-969"},"content":[{"type":"text","text":"A "},{"type":"text","text":"moneylending agreement","marks":[{"type":"bold"},{"type":"italic"}]},{"type":"text","text":" is:"}]},{"type":"legalList","attrs":{},"content":[{"type":"legalListItem","attrs":{"marker":"(a)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-970"},"content":[{"type":"text","text":"an agreement entered into in good faith, on ordinary commercial terms and in the ordinary course of carrying on a business (a "},{"type":"text","text":"moneylending business","marks":[{"type":"bold"},{"type":"italic"}]},{"type":"text","text":") of lending money or otherwise providing financial accommodation, except an agreement dealing with any matter unrelated to the carrying on of that business; 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and"}]}]},{"type":"legalListItem","attrs":{"marker":"(b)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-983"},"content":[{"type":"text","text":"the entity holds the interest in the asset solely in the entity’s capacity as the provider of the service; and"}]}]},{"type":"legalListItem","attrs":{"marker":"(c)"},"content":[{"type":"paragraph","attrs":{"id":"v0-p-984"},"content":[{"type":"text","text":"the holding of the interest does not put the entity in a position to directly or indirectly influence or control the asset."}]}]}]}]}]}]}]}