Document ID: chunk:federal_register_of_legislation:C2025C00162:clause:1a_1209zc
Version: federal_register_of_legislation:C2025C00162
Segment Type: clause
Provision Reference: sch 1A cl 1209ZC
Character Range: 2657077–2657812

1209ZC  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 1123) 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 1209L.
Note 2: Section 1209R 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 1209ZD.