Declared public unit trust—Act, s 79
4 Declared public unit trust—Act, s 79
For section 79 of the Act, each of the following unit trusts is declared to be a public unit trust—
a unit trust mentioned in schedule 1, part 1;
a unit trust mentioned in schedule 1, part 2, if the conditions mentioned in subsection (2) are satisfied for the trust.
For subsection (1)(b), the conditions are—
the trust is established and continues for the direct or indirect investment of funds of investors approved by the Treasurer; and
the trust—
is not established or managed for a particular investor mentioned in paragraph (a); or
if the trust is established or managed for a particular investor mentioned in paragraph (a)—has been approved by the Treasurer as eligible to be declared as a public unit trust; and
the Queensland Investment Corporation, or a company wholly owned by the corporation, is the trustee for the trust.
However, the Treasurer may approve a trust under subsection (2)(b)(ii) only if the Treasurer is satisfied the investor for whom the trust is established or managed has a sufficient connection with the State.
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