Document ID: chunk:federal_register_of_legislation:F2021L01311:reg:15:p2
Version: federal_register_of_legislation:F2021L01311
Segment Type: reg
Provision Reference: reg 15 (pt 2/2)
Character Range: 12413–14416

trustees of a trust created on or after 20 September 2006 and before 1 January 2011 in relation to which the trust deed cannot be varied, if the Secretary is satisfied that the trust has complied with section 1209N of the Act.
 (5) Subject to subsection (6), the Secretary may decide to give a waiver notice to the trustees of a trust in relation to a contravention of paragraph 1209R(1)(b) of the Act if the Secretary is satisfied that:
 (a) the contravention occurred as a result of court proceedings relating to the transferred asset; or
 (b) the contravention occurred because:
 (i) the transferor transferred the asset within the timeframe under paragraph 1209R(1)(b) of the Act to a trust intended to be a special disability trust (the first trust); and
 (ii) the first trust is not a special disability trust because of a contravention of a requirement of Division 1 of Part 3.18A of the Act; and
 (iii) the asset is transferred by the transferor to a special disability trust; or
 (c) the transferor:
 (i) transferred the asset to a trust intended to be a special disability trust after the end of the 3 year period mentioned in paragraph 1209R(1)(b) of the Act; and
 (ii) can show there was an intention to transfer the asset to the trust before the end of that 3 year period.
 (6) The Secretary may decide to give a waiver notice to the trustees of a trust in the circumstances set out in subsection (5) if the Secretary is satisfied of the following matters:
 (a) the contravention does not involve fraudulent conduct;
 (b) the contravention in relation to the first trust does not involve fraudulent conduct;
 (c) having regard to all the circumstances, including the nature of the contravention in relation to the first trust, the requirement should be waived.
 (7) Section 17 does not apply to a waiver notice given in accordance with this section.
 (8) This section does not limit the circumstances in which the Secretary may decide to give a waiver notice under section 1209U of the Act.