persons acting in concert (3) For the purposes of this Act- (a) "persons acting in concert" means persons who have entered into an agreement or arrangement to- (i) acquire jointly or severally interests in shares of a corporation for the purpose of obtaining or consolidating control of that corporation; or (ii) act jointly for the purpose of exercising control over a corporation by means of interests in shares of that corporation already held by them jointly or severally; and (b) without prejudice to the generality of paragraph (a), the following persons shall be presumed to be persons acting in concert, unless the contrary is established: (i) a corporation and its related and associate corporations; (ii) a corporation and any of its directors, or the parent, child, brother or sister of any of its directors, or the spouse of any such director or of any such relative, or any related trusts; (iii) a corporation and any pension fund established by it; (iv) a person and any investment company, unit trust or other fund whose investments such person manages on a discretionary basis; or (v) a financial adviser and its client which is a corporation, where the financial adviser manages on a discretionary basis the client's funds and has ten per centum or more interest in the shares of the client. ACT 372 - BANKING AND FINANCIAL INSTITUTIONS ACT 1989 2. Interpretation.