Duties Act 2001

For section 75(1)(b) and (c)—

a member of a large qualified holder of units in a unit trust is taken to be entitled to the number of units in the trust that is worked out by applying the member’s interest in the holder to the units in the trust held by the holder; and

another holder of units in the trust is entitled to the units held.

For subsection (1)(a), a member’s interest in a large qualified holder is the proportion that the value of the member’s entitlement as a member bears to the value of the entitlements of all members in the holder expressed as a percentage.

For section 75, a person who is entitled to units in the unit trust is taken to be entitled to all units that, under subsection (1)(a) and (b), the person and related persons of the person are entitled.