Document ID: chunk:federal_register_of_legislation:C2024C00506:section:15
Version: federal_register_of_legislation:C2024C00506
Segment Type: section
Provision Reference: s 15
Character Range: 18480–19657

15  Succession test
 (1) An entity satisfies the succession test in relation to resale royalty right on the commercial resale of an artistic work, if the entity satisfies:
 (a) criteria 1 and 2 (in subsections (2) and (3)); or
 (b) criteria 3 and 4 (in subsections (4) and (5)).

Criterion 1
 (2) The entity received its interest in the right by testamentary disposition, or in accordance with the rules of intestate succession, on the death of an individual.

Criterion 2
 (3) The entity is one of the following:
 (a) an individual with a beneficial interest in the right;
 (b) a charity or charitable institution with a beneficial interest in the right;
 (c) a community body with a beneficial interest in the right;
 (d) a person who holds an interest in the right in trust for:
 (i) an individual; or
 (ii) a charity or charitable institution; or
 (iii) a community body.

Criterion 3
 (4) The entity received its interest in the right on the winding up of a charity, charitable institution or a community body.

Criterion 4
 (5) The entity is a charity, charitable institution or a community body formed for substantially the same purposes as the body that was wound up.