Document ID: chunk:federal_register_of_legislation:C2025C00014:section:345:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 345 (pt 2/3)
Character Range: 1908379–1911129

Act;
then, for the purpose of determining whether an entity that was a partner in the partnership immediately before the cessation time is an eligible transferor in relation to the trust at a time after the cessation time, each such partner is to be taken to have transferred the original property or services to the trust at the transfer time.
 (7) Nothing in subsection (6) affects the application of this Subdivision to the transfer made by the partnership concerned.
 (8) For the purposes of this Subdivision, if:
 (a) apart from this subsection and subsections (6), (10) and (11), a discretionary trust (in this subsection called the transferor trust) transfers property or services (in this subsection called the original property or services) to another trust (in this subsection called the transferee trust) at a particular time (in this subsection called the transfer time); and
 (b) at a later time (in this subsection called the cessation time), the transferor trust commences to be wound up or ceases to exist for the purposes of this Act; and
 (c) apart from this subsection and subsections (6), (10) and (11), one or more other entities transferred property or services to the transferor trust at or before the transfer time;
each of those other entities is to be taken to have transferred the original property or services to the transferee trust at the transfer time.
 (9) Nothing in subsection (8) affects the application of this Subdivision to the transfer mentioned in paragraph (8)(a).
 (10) For the purposes of this Subdivision, where:
 (a) any of the following subparagraphs applies:
 (i) any of the following events occurs in relation to a company (which company is in this subsection called the transferor):
 (A) the company passes a resolution for its winding‑up;
 (B) an order is made for the winding‑up of the company;
 (C) any similar event;
 (ii) a partnership (in this subsection also called the transferor) ceases to exist for the purposes of this Act;
 (iii) either of the following sub‑subparagraphs applies in relation to the trustee of a trust (in this subsection also called the transferor):
 (A) the trust commences to be wound‑up;
 (B) the trust estate ceases to exist for the purposes of this Act; and
 (b) an actual transfer of property or services is made to a trust (in this subsection called the transferee) as a consequence of the transferor being wound‑up or ceasing to exist;
the transferor is taken to have transferred to the transferee the property or services concerned.
 (11) Where:
 (a) the following subparagraphs apply to an entity (in this subsection called the defunct entity):
 (i) the defunct entity is a company, partnership or trust;
 (ii) the defunct entity transferred property or services