(1) For this part, a trust is an
"associated trust" of an institution if the institution uses the trust to
carry out its functions or activities and—
(a) the institution has, directly
or indirectly, any of the following powers—
(i) a power to control the
application of income of the trust or the distribution of property of the
trust;
(ii) a power to obtain the beneficial enjoyment of the property or
income of the trust, with or without the consent of another entity;
(iii) a
power to appoint or remove a trustee or beneficiary of the trust;
(iv) a
power to determine the outcome of any other decision about the trust’s
operations; or
(b) a member or manager of the institution has, under the
trust deed for the trust, a power mentioned in paragraph (a) ; or
(c) a
trustee is accustomed to acting, or is under a formal or informal obligation
to act, according to the directions, instructions or wishes of the institution
or a member or manager of the institution.
(2) Also, a reference in division
4 or 5 to an
"associated trust" of an institution includes a trust in relation to which an
order is in force under section 33H(6) (in relation to any abuse claim
against the institution).
