Requirement to keep particular instruments
506 Requirement to keep particular instruments
The trustee of a unit trust must keep an instrument that effects or evidences—
an acquisition or disposition of a unit in the trust; or
for a listed unit trust—any other acquisition of an interest in the trust.
A corporation or society must keep an instrument that effects or evidences an acquisition of an interest in the corporation or society.
For subsections (1)(b) and (2), an acquisition of an interest in a corporation, society or listed unit trust includes an acquisition of an interest to which section 162 would apply if the reference in that section to a landholder were a reference to a corporation, society or listed unit trust.
This Act’s bill:Explanatory memorandum
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