70. Meaning of "associated debtor" in this Act.

(1) For the purposes of this Act, a person is an "associated debtor" of a debtor if the person - (a) is or was at any time directly or indirectly indebted or otherwise obligated to a participating institution under or in connection with a credit facility, and (b) is or was at any time - (i) a body corporate that was a subsidiary of, or a related company (within the meaning given by section 140(5) of the Companies Act 1990) to, the debtor, (ii) a nominee of the debtor, including a person who may or does in fact act at the express or implied direction or instruction of the debtor or another associated debtor of the debtor, (iii) acting in the capacity of trustee of a declared or undeclared trust the beneficiaries of which include (directly or indirectly) - (I) the debtor, (II) a person referred to in subparagraph (ii), or (III) a body corporate controlled by the debtor or a person referred to in that subparagraph, (iv) in partnership, within the meaning of the

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