Document ID: chunk:federal_register_of_legislation:C2005C00508:clause:2_52zzi
Version: federal_register_of_legislation:C2005C00508
Segment Type: clause
Provision Reference: sch 2 cl 52ZZI
Character Range: 142542–143904

52ZZI  Interest in a trust

 (1) For the purposes of this Subdivision, if an entity:
 (a) has entered into a contract to purchase a beneficial interest in the corpus or income of a trust; or
 (b) has a right, otherwise than by reason of holding an interest in a trust, to have such an interest transferred to the entity or to the entity's order (whether the right is exercisable presently or in the future) and whether on the fulfilment of a condition or not; or
 (c) has the right to acquire such an interest under an option (whether the right is exercisable presently or in the future) and whether on the fulfilment of a condition or not; or
 (d) is otherwise entitled to acquire such an interest;
the entity is taken to hold that interest in the trust.

 (2) An entity is taken to hold an interest in the corpus or income of a trust even if the entity holds the interest jointly with another entity.

 (3) An interest in the corpus or income of a trust is not to be disregarded only because of:
 (a) its remoteness; or
 (b) the manner in which it arose; or
 (c) the fact that the exercise of a right conferred by the interest is, or is capable of being made, subject to restraint or restriction.

 (4) In this section:

income means income within the ordinary meaning of that expression.

Subdivision F—Attributable stakeholders and attribution percentages