Document ID: chunk:federal_register_of_legislation:C2011A00147:clause:8_39
Version: federal_register_of_legislation:C2011A00147
Segment Type: clause
Provision Reference: sch 8 cl 39
Character Range: 43670–44424

39  Transitional provision—trustees need not be constitutional corporations
Paragraph 426‑102(1)(a) (trustees of public ancillary funds must be constitutional corporations, Public Trustees or prescribed) 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 40 in accordance with subsection 426‑102(2) in that Schedule.