(1) An entity’s
"property" means the entity’s interest in any property other than a security
interest or interest in a trust.
(2) Also, an entity’s
"property" includes any property under subsection (1) held by the entity for a
partnership of which the entity is a partner.
(3) Also, an entity’s
"property" includes any property under subsection (1) or (2) of a subsidiary
of the entity as if a reference in the subsection to an entity were a
reference to the subsidiary.
(4) Despite subsections (1) to (3) , the
entity’s property does not include—
(a) for a corporation—property held
on trust by the corporation or a subsidiary of it unless the corporation or
any subsidiary of it is a beneficiary of the trust; or
(b) for a listed unit
trust—property held on trust by a subsidiary of it unless the listed unit
trust or any subsidiary of it is a beneficiary of the trust.