Commonwealth Consolidated Acts

FOREIGN ACQUISITIONS AND TAKEOVERS ACT 1975 - SECT 13D

             (1)  For the purposes of this Act, a trust estate is an Australian urban land trust estate if it is a unit trust estate and the value of so much of its total assets as consists of interests in Australian urban land exceeds 50% of the value of its total assets.

             (2)  Where a reasonable value of the particular assets or of the total assets of a trust estate is given in a valuation, that value shall be taken to be their value at a particular time for the purposes of subsection (1) if:

                     (a)  the person giving the valuation was at the time of the valuation a suitably qualified valuer acting at arm's length in relation to the valuation;

                     (b)  the valuation was made not more than 12 months before the particular time; and

                     (c)  the value of those assets had not increased significantly between the time of the valuation and the particular time.