DUTIES ACT 2001 - SECT 81A Particular trust interests disregarded for majority trust acquisitions

DUTIES ACT 2001 - SECT 81A

81A Particular trust interests disregarded for majority trust acquisitions

(1) This section applies if—

(a) under section 80 , a person would have made a majority trust acquisition in a wholesale unit trust; and

(b) all the persons who held or acquired the trust interests comprising the majority trust acquisition are group companies of a corporate group; and

(c) the funds manager of the wholesale unit trust is a group company of the corporate group; and

(d) there is no arrangement to avoid the imposition of transfer duty.

(2) For section 80 , the trust interest of a person mentioned in subsection (1) (b) who is a qualified holder must be disregarded.

(3) To remove any doubt, it is declared that section 80 applies to other trust interests, including trust interests held through the qualified holder.