DUTIES ACT 2000 - SECT 89U Registration of declared wholesale unit trust schemes

DUTIES ACT 2000 - SECT 89U

    (1)     On application by the trustee of a unit trust scheme, the Commissioner may register the unit trust scheme as a declared wholesale unit trust scheme if the Commissioner is satisfied that the scheme meets the criteria for registration as a declared wholesale unit trust scheme.

    (2)     The criteria for registration as a declared wholesale unit trust scheme are—

        (a)     the scheme should be registered as a declared wholesale unit trust scheme; and

        (b)     registration is not being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of, avoiding or reducing duty otherwise chargeable under this Part.

    (3)     The Commissioner may impose any conditions he or she considers appropriate on the registration of a unit trust scheme as a declared wholesale unit trust scheme.

S. 89V inserted by No. 38/2012 s. 5.