Section 5C — Bankruptcy Act 1966: Associated entities: natural persons

(1) For the purposes of this Act, a natural person (in this section called the associate) is associated with another person if the other person: (a) holds property jointly with the associate; or (b) is a trustee of a trust under which the associate is capable of benefiting; or (ba) can benefit under a trust of which the associate is a trustee; or (c) is employed, or is engaged under a contract for services, by the associate; or (d) acts as agent for the associate in any transaction or dealing; or (da) is a principal for whom the associate acts as an agent; or (e) is an attorney of the associate under a power of attorney; or (f) has appointed the associate as the other person’s attorney under a power of attorney; or (g) gives professional advice to the associate; or (h) is given professional advice by the associate. (2) A natural person (the associate) is also associated with another person if the associate has acquired or disposed of property as a result of dealing with the other person. (3) The circumstances set out in subsections (1) and (2) are the only circumstances in which a natural person is associated with another person for the purposes of this Act.