Document ID: chunk:federal_register_of_legislation:C2018A00023:clause:1_40
Version: federal_register_of_legislation:C2018A00023
Segment Type: clause
Provision Reference: sch 1 cl 40
Character Range: 17176–17818

40  After subsection 429(2)
Insert:
 (2A) However, if:
 (a) the corporation:
 (i) is a licensed trustee company; or
 (ii) holds an Australian financial services licence that covers the provision of custodial or depository services; and
 (b) the only property of the corporation in respect of which a person is controller is property the corporation holds on trust;
subsection (2) applies only to affairs of the corporation that relate to the relevant registered schemes and trusts, and the notice under paragraph (2)(a) may refer to those schemes and trusts.
Note: See section 429A if the property is scheme property of a registered scheme.