Document ID: chunk:federal_register_of_legislation:C2006A00082:clause:7_52zzzwo
Version: federal_register_of_legislation:C2006A00082
Segment Type: clause
Provision Reference: sch 7 cl 52ZZZWO
Character Range: 82755–83500

52ZZZWO  Transfers by principal beneficiaries or partners

 (1) If a person transfers an asset to a special disability trust, the transfer is taken not to be a disposal of the asset (within the meaning of section 52E) if:
 (a) the person is the principal beneficiary of the trust, or the principal beneficiary's partner; and
 (b) the person receives no consideration, and is not entitled to any consideration, for the transfer; and
 (c) the transfer is unconditional.

Note 1: For special disability trust, see section 52ZZZW.

Note 2: Section 52ZZZWE limits the circumstances in which the principal beneficiary or the principal beneficiary's partner can transfer assets to the trust.

 (2) This section has effect subject to section 52ZZZWP.