Primary groups arising from tracing of interests in corporations
(1) An entity and a corporation form part of a primary group if the entity has a controlling interest in the corporation. (2) For the purposes of this section, an entity has a controlling interest in a corporation if the corporation has share capital and— (a) the entity has a direct interest in the corporation and the value of that direct interest exceeds 50%, or (b) the entity has an indirect interest in the corporation and the value of that indirect interest exceeds 50%, or (c) the entity has an aggregate interest in the corporation and the value of the aggregate interest exceeds 50%. (3) Schedule 2 has effect. (4) In this section— associated person has the meaning given by the Duties Act 1997. entity means— (a) a person, or (b) a group of associated persons.
Sourced from the New South Wales Legislation website at 8 June 2026. For the latest information on New South Wales Government legislation please go to https://www.legislation.nsw.gov.au. Verify the current text against the official source before relying on it.
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