Commonwealth Numbered Regulations
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TRANSACTION REPORTS REGULATIONS (AMENDMENT) 1991 No. 7 - REG 5.
New Regulation 11A
5.1
After regulation 11, insert:
Statement in relation to certain trust
accounts: subsection 20(6) of the Act
"11A (1) A statement under section 20 of the Act in relation to an
account that is held in trust need not set out the name of each beneficiary
under the trust if the account:
(a) is an account held by, or operated in connection with, an exempt
superannuation fund; or
(b) is a trust account held by:
(i) the Commonwealth, a State, the Australian Capital Territory,
the Northern Territory or the Territory of Norfolk Island; or
(ii) a public authority; or
(iii) a local government body.
"(2) A statement in relation to any other trust account must state, instead of
setting out the name of each beneficiary:
(a) the name and address of the trustee; and
(b) if the terms of the trust identify the beneficiaries by reference only
to membership of a class—details of the class.".
_____________________________________________________
1. Notified
in the Commonwealth of Australia Gazette on 31 January 1991.
2.
Statutory Rules 1990 No.36 as amended by 1990 Nos. 162, 340 and 341.