s 29X Meaning of “associate”
29X.—(1) Subject to subsection (3), the following persons are associates of a person:(a) a relative of the person; (b) a partner of the person; (c) a corporation of which the person is an officer; (d) if the person is a corporation, an officer of the corporation; (e) an employee or employer of the person; (f) an officer of a corporation of which the person is an officer; (g) an employee of an individual of whom the person is an employee; (h) the trustee of a discretionary trust where the person or another person who is an associate of the person by virtue of another paragraph in this subsection benefits, or is capable (whether by exercise of a power of appointment or otherwise) of benefitting, under the trust, either directly or through interposed companies, partnerships or trusts; (i) a corporation whose directors are accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of the person; (j) a corporation where the person is accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of the corporation. (2) If a person (called the first person) enters, or proposes to enter, into an arrangement with another person (called the second person) that relates to any of the following matters:(a) the first person and the second person being in a position, by acting together, to control any of the voting power in a cruise terminal licensee; (b) the power of the first person and the second person, by acting together, to appoint or remove a director of a cruise terminal licensee; (c) the situation where one or more of the directors of a cruise terminal licensee are accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of the first person and the second person acting together, then, the second person is taken to be an associate of the first person for the purposes of the application of any provision in this Division in relation to the matter concerned. (3) Regulations made under section 45 may provide —(a) for persons to be associates in any other circumstances; and (b) that any person or class of persons is not an associate of another person for the purposes of any provision of this Part.[Act 28 of 2022 wef 01/04/2023]