s 80
In forceWhat is a majority trust acquisition
Chapter 2Transfer duty
Part 8Dutiable transactions relating to trusts
Division 7Public unit trusts
Subdivision 7Majority trust acquisitions in land holding trusts
80 What is a majority trust acquisition
A person who makes a trust acquisition in a land holding trust makes a majority trust acquisition if—
(a)
the person, or the person and related persons of the person (whether alone or jointly), acquire a trust interest in the trust of 50% or more; or
(b)
the person, or related persons of the person (whether alone or jointly), acquire a trust interest in the trust that, when aggregated with trust interests already held by the person and related persons of the person (whether alone or jointly), is 50% or more.
This Act’s bill:Explanatory memorandum
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