Duties Act 2001

An entity’s land-holdings means the following—

the entity’s interest in land, and anything fixed to the land that may be separately owned from the land (whether or not the entity has an interest in the thing fixed to the land), other than—

a security interest; or

an interest in a trust;

Note—See the Acts Interpretation Act 1954, schedule 1, definition interest.

rights held by the entity that—

relate to, or affect, the use of the entity’s land and other land; and

enhance the value of the entity’s land;

an interest in land, and anything fixed to the land, that is the subject of a purchase agreement or sale agreement made by the entity.

Also, an entity’s land-holdings includes the land-holdings, under subsection (1), held by the entity for a partnership of which the entity is a partner as if a reference in the subsection to land, an interest in land or rights, were a reference to land, an interest in land or rights held by the entity for the partnership.

Also, an entity’s land-holdings includes the land-holdings, under subsection (1) or (2), of a subsidiary of the entity as if a reference in the subsection to an entity were a reference to the subsidiary.

Despite subsections (1) to (3), an entity’s land-holdings do not include—

for a corporation—land-holdings held on trust by the corporation or a subsidiary of it unless the corporation or any subsidiary of it is a beneficiary of the trust; or

for a listed unit trust—land-holdings held on trust by a subsidiary of it unless the listed unit trust or any subsidiary of it is a beneficiary of the trust.