Under the Duties Act 2000 (Vic) as it stood between the 2004 and 2007 amendments, a trustee acquiring units in a land rich unit trust in its capacity as trustee of another trust did not have a 'beneficial entitlement' under s 76(1) or 'obtain an interest beneficially' under s 77(1), and the acquisition was therefore not a 'relevant acquisition' attracting duty under the land rich provisions. The 2007 amendments to s 77 (inserting s 77(2AA) deeming trustees to obtain interests beneficially) closed this gap prospectively.
The full text is available to signed-in members, including the 11 later cases that cite this judgment.
2 of the 11 citing cases carry a classified treatment. How each court treated it is available to signed-in members.