212
In forceAcquiring share interest in corporation
Chapter 3Landholder duty and corporate trustee duty
Part 2Corporate trustee duty
Division 2Some basic concepts for corporate trustee duty
212 Acquiring share interest in corporation
(1)
A person acquires a share interest in a corporate trustee or relevant corporation for a corporate trustee if—
(a)
the person becomes a shareholder of the corporate trustee or relevant corporation; or
(b)
being a shareholder, the person’s share interest increases.
(2)
However, the acquisition of a share interest by a beneficiary from the personal representative in the administration of the estate of a deceased person is not an acquisition for this part.
This Act’s bill:Explanatory memorandum
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