DUTIES ACT 2008 - SECT 149
DUTIES ACT 2008 - SECT 149
149 . Determining entitlement to land assets and chattels
(1) In determining the
entitlement of a landholder or other entity to land assets, chattels, or land
assets and chattels, for the purposes of this Chapter —
(a) if
the landholder or other entity has entered into an agreement to acquire an
interest in land assets, chattels, or land assets and chattels the agreement
is to be regarded as having been completed even if it has not yet been
completed; and
(b) if
the landholder or other entity has entered into an agreement to dispose of an
interest in land assets, chattels, or land assets and chattels, but the
agreement has not yet been completed, the agreement is to be disregarded.
(2) In determining the
entitlement of an entity to land assets, chattels, or land assets and
chattels, for the purposes of this Chapter —
(a) an
entity that is a partnership is taken to be entitled to land assets or
chattels if the partnership property is or includes those land assets or
chattels; and
(b) an
entity that is a unit trust scheme or the trustee of a discretionary trust is
taken to be entitled to land assets or chattels if the trust property is or
includes those land assets or chattels.
[(2A), (3) and (4) deleted]
[Section 149 amended: No. 33 of 2011 s. 5; No. 12
of 2019 s. 57.]