Document ID: chunk:federal_register_of_legislation:C2006A00082:clause:7_1209zc
Version: federal_register_of_legislation:C2006A00082
Segment Type: clause
Provision Reference: sch 7 cl 1209ZC
Character Range: 56101–56841

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.