Document ID: chunk:federal_register_of_legislation:C2025C00014:section:102p:p5
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 102P (pt 5/5)
Character Range: 849264–850610

an invitation is issued to the public or to a section of the public to make offers to subscribe for or purchase the units.
 (10) For the purposes of this section, where any units in a unit trust (except a foreign entity to which subsection 102N(2) applies) are held by the trustee of another trust estate, a person who has a beneficial interest in property of that other trust estate that consists of those units (whether or not that beneficial interest is deemed to be held by virtue of the application of this subsection) shall be deemed to hold those units.
 (10A) Subsection (10) does not apply in relation to units in a unit trust that are held by the trustee of another trust estate if the other trust estate is a complying superannuation entity (within the meaning of the Income Tax Assessment Act 1997).
 (11) For the purposes of this section, a distribution of property of a unit trust to a unitholder shall be taken to be a payment of money to the unitholder of an amount equal to the value of the property.
 (12) For the purposes of this section:
 (a) a person, whether or not he or she holds units in the unit trust concerned;
 (b) his or her relatives; and
 (c) in relation to any units in respect of which they are such nominees, his or her nominees and the nominees of any of his or her relatives;
shall be deemed to be one person.