Exemption—change of trustee

In force

Corporate trustee duty is not imposed on a relevant acquisition for the sole purpose of giving effect to a change of a trustee if—

(a)

the acquisition is not part of an arrangement—

(i)

involving a change in the rights or interest of a beneficiary of the trust; or

(ii)

terminating the trust; and

(b)

the acquisition is not part of an arrangement to avoid the imposition of duty; and

(c)

transfer duty has been paid on all trust acquisitions for which transfer duty is imposed for the trust before the acquisition.

Research tools for this sectionSubscription

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.