Document ID: chunk:federal_register_of_legislation:C2010C00406:clause:2_28
Version: federal_register_of_legislation:C2010C00406
Segment Type: clause
Provision Reference: sch 2 cl 28
Character Range: 29941–30655

28  Transitional—trustees need not be constitutional corporations
Paragraph 426‑105(1)(a) (trustees of private ancillary funds must be constitutional corporations) and sections 426‑125 to 426‑165 (Suspension and removal of trustees) in Schedule 1 to the Taxation Administration Act 1953 do not apply to the trust during the period:
 (a) starting at the commencement time; and
 (b) ending at the earlier of the following:
 (i) the time (at or after the commencement time) the trust first satisfies the requirements of that paragraph (disregarding this item);
 (ii) the first time any of the trustees of the trust revoke the agreement mentioned in item 29 in accordance with subsection 426‑105(2) in that Schedule.