79When 2 or more bodies corporate must be treated as 1 person

1. For the purposes of this Part, any 2 or more bodies corporate must be treated as 1 person if—

2. one of them is a body corporate of which the others are subsidiaries; or
3. all of them are subsidiaries of the same body corporate; or
4. all of them are associates of each other; or
5. one of them owns or controls shares that in the aggregate carry the right to exercise or control the exercise of 20% or more of the voting power at meetings of the others; or
6. 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.

7. For the purposes of subsection (1)(c), a body corporate is an associate of another if that body corporate is able, whether directly or indirectly, to exert a substantial degree of influence over the activities of the other.

8. A body corporate is not able to exert a substantial degree of influence over another body corporate for the purposes of subsection (2) just because—

9. those bodies corporate are in competition in the same market; or
10. one of them supplies goods or services to the other.

11. If any of the circumstances described in subsection (1)(a) to (e) apply to 2 or more bodies corporate for part of a year, those bodies corporate must be treated as 1 person in respect of that part of the year to which the relevant circumstance applies.