41AAInterpretation for change of control and transfer provisions

1. In this section, sections 41AB to 41A and 41E to 41I, subpart 2 of this Part, and Part 6 of Schedule 1,—

   body corporate that is undergoing a change of control means a body corporate that is a permit participant, permit operator, licence holder, or holder of a participating interest in a licence referred to in section 41AB(1) that undergoes a change of control

   change of control, in relation to a body corporate, means either of the following:

   1. that a person obtains a controlling interest in the body corporate; or
   2. in the case of an exploration or a mining permit or licence for petroleum, that a person ceases to have a controlling interest in the body corporate

   current licence holder has the same meaning as in section 89D

   current permit holder has the same meaning as in section 89D

   incoming person means a person who obtains a controlling interest in a body corporate that is undergoing a change of control

   licence has the same meaning as in section 89D

   outgoing person means any of the following:

   1. a person who ceases to have a controlling interest in a body corporate that is undergoing a change of control:
   2. a person who ceases to have all or part of an interest in a body corporate that is undergoing a change of control that results in another person acquiring a controlling interest in that body corporate:
   3. a person who transfers all or part of their participating interest in a permit or licence for petroleum, or transfers their licence for petroleum, to another person

   petroleum infrastructure has the same meaning as in section 89F

   relevant older petroleum infrastructure has the same meaning as in section 89H

   relevant older well has the same meaning as in section 89I

   well has the same meaning as in section 89D.

2. A person has a controlling interest if they are—

3. a person (person A) with the power (whether directly or indirectly) to exercise, or control the exercise of, 50% or more of the voting rights in the body corporate in question; or
4. a person (person A) who together with 1 or more specified persons has the power (whether directly or indirectly) to exercise, or control the exercise of, 50% or more of the voting rights in the body corporate in question.

5. A person is a specified person in relation to person A if the person—

6. is acting or will act jointly or in concert with person A in respect of exercising, or controlling the exercise of, the voting rights of,—
   1. in the case of a permit, a permit participant:
   2. in the case of a licence, a person with a participating interest in the licence; or
7. in the case of either a licence or a permit, acts, or is accustomed to acting, in accordance with the wishes of person A.