Document ID: chunk:federal_register_of_legislation:C2016C00501:clause:5_2
Version: federal_register_of_legislation:C2016C00501
Segment Type: clause
Provision Reference: sch 5 cl 2
Character Range: 17082–17738

2  Paragraphs 275‑15(1)(a) and (b)
Repeal the paragraphs, substitute:
 (a) the condition in paragraph 12‑400(1)(a) in Schedule 1 to the Taxation Administration Act 1953 is satisfied; and
 (b) either:
 (i) the only *member of the trust is an entity covered by subsection 12‑402(3) of that Schedule (other than an entity mentioned in paragraph (e) of that subsection); or
 (ii) the only member of the trust is an entity treated in the same way as a managed investment trust in relation to the income year because of this Subdivision; and
 (c) the trust satisfies the licensing requirements in section 12‑403 of that Schedule in relation to the income year.