I would have thought CAR 2(7) was the reference. Although I must admit just having looked at it then, it's been rewritten since I last saw it.
My italics.
Code:
(7)For the purposes of these Regulations: (d) an aircraft that is flying or operating for the purpose of, or in the course of:
(i) the personal transportation of the owner of the aircraft [flying the owner around. Whether by himself, or a PPL pilot for free, or a PPL pilot paid a billion dollars a year];
(ii) aerial spotting where no remuneration is received by the pilot or the owner of the aircraft or by any person or organisation on whose behalf the spotting is conducted[self explanatory];
(iii) agricultural operations on land owned and occupied by the owner of the aircraft[self explanatory];
(iv) aerial photography where no remuneration is received by the pilot or the owner of the aircraft or by any person or organisation on whose behalf the photography is conducted[self explanatory];
[this one seems to trip people up] (v) the carriage of persons or the carriage of goods without a charge for the carriage being made [carrying pax or cargo for free] other than the carriage, for the purposes of trade, of goods being the property of the pilot, the owner or the hirer of the aircraft[carrying goods for free is not allowed if they are for the purposes of trade];
(va) the carriage of persons in accordance with subregulation (7A);
(vi) the carriage of goods otherwise than for the purposes of trade[this has been added since I last saw it. Repeating (v) for emphasis I assume.];
(vii) conversion training for the purpose of endorsement of an additional type or category of aircraft in a pilot licence; or
(viii) any other activity of a kind substantially similar to any of those specified in subparagraphs (i) to (vi) (inclusive);
shall be taken to be employed in private operations.
(7A)An aircraft that carries persons on a flight, otherwise than in accordance with a fixed schedule between terminals, is employed in a private operation if:
(a) public notice of the flight has not been given by any form of public advertisement or announcement; and
(b) the number of persons on the flight, including the operating crew, does not exceed 6; and
(c) no payment is made for the services of the operating crew; and
(d) the persons on the flight, including the operating crew, share equally in the costs of the flight; and
(e) no payment is required for a person on the flight other than a payment under paragraph (d).