Queensland Consolidated Acts Queensland Consolidated Acts(1) Where for the purposes of this Act it is necessary to determine who were the beneficiaries of a trust as at midnight on a 30 June--
(a) in the case of a trust other than a discretionary trust--the beneficiaries shall include every person who was a beneficiary of the trust during the period of 12 months immediately preceding that time; or
(b) in the case of a discretionary trust--the beneficiaries shall be those persons in whose favour a power of appointment has been exercised by any person during the period of 12 months immediately preceding that time.
(2) In subsection (1)--
discretionary trust means a trust over the property of which any person has a power of appointment.
(3) In this Act, a reference to a beneficiary of a trust shall be taken to refer to a person entitled to a beneficial interest in land or income derived from land that is the subject of the trust.