Repealed Act applies to particular trust acquisitions and trust surrenders in widely held unit trusts
521 Repealed Act applies to particular trust acquisitions and trust surrenders in widely held unit trusts
Subsection (2) applies if—
a disposition of units in a public unit trust scheme mentioned in repealed Act, section 56B(1), definition public unit trust scheme, paragraphs (b) to (d), that is one in a series of dispositions relating to the trust was not chargeable with stamp duty under that Act; and
a trust acquisition or trust surrender of a trust interest in the series mentioned in paragraph (a) in the unit trust is made on or after the commencement day; and
under section 70(2), the unit trust is not a widely held unit trust.
The repealed Act applies to the disposition that is the trust acquisition or trust surrender.
This Act’s bill:Explanatory memorandum
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