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FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 11 Meaning of interest in a trust

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 11

Meaning of interest in a trust

    A person holds or acquires an interest in a trust if:

  (a)   the person holds or acquires a beneficial interest in the income or property of the trust; or

  (b)   the person holds or acquires an interest in a unit in a unit trust.

Note 1:   For other rules relating to interests in trusts, see sections   13 to 15.

Note 2:   See also section   19 (tracing of substantial interests in corporations, trusts and unincorporated limited partnerships).