471. Meaning of 'associate' and 'associated company'.

'Associate' means1, in relation to a person:


    (1)     any relative2 or partner of the person;


    (2)     the trustees of any settlement in relation to which the person is, or any relative of his, living or dead, is or was, a settlor3; and


    (3)     where the person has an interest in any shares or obligations of a company which are subject to any trust, or are part of the estate of a deceased person:


      (a)     the trustees of any settlement concerned or, as the case may be, the personal representatives of the deceased; and