Document ID: chunk:federal_register_of_legislation:C2025C00014:schedule:2f:p74
Version: federal_register_of_legislation:C2025C00014
Segment Type: schedule
Provision Reference: sch 2F (pt 74/79)
Character Range: 2385343–2387929

abrogated in such a way (even if they are not in fact varied or abrogated in that way) that directly or indirectly the requirement in paragraph (1)(b) would not be satisfied.

Subdivision 272‑G—Unlisted widely held trust and listed widely held trust

272‑110  Unlisted widely held trust
  Subject to Subdivision 272‑J, a unit trust is an unlisted widely held trust if it is a widely held unit trust whose units are not listed for quotation in the official list of an approved stock exchange.

272‑115  Listed widely held trust
  A unit trust is a listed widely held trust if it is a widely held unit trust whose units are listed for quotation in the official list of an approved stock exchange.

Subdivision 272‑H—Unlisted very widely held trust

272‑120  Unlisted very widely held trust
 (1) Subject to Subdivision 272‑J, a unit trust is an unlisted very widely held trust if:
 (a) it is an unlisted widely held trust; and
 (b) it has at least 1,000 unit holders; and
 (c) all of its units carry the same rights; and
 (d) if its units are redeemable, they are redeemable for a price determined on the basis of its net asset value, according to Australian accounting principles; and
 (e) it engages only in qualifying activities (see subsection (2)).

Qualifying activity
 (2) A qualifying activity is an activity that:
 (a) is an investment or business activity; and
 (b) is conducted in accordance with the trust instrument or deed, and any prospectus, of the trust; and
 (c) is conducted at arm's length.

Extended status
 (3) If:
 (a) at a particular time (the first qualifying time), a trust for the first time becomes an unlisted very widely held trust; and
 (b) at a time (the first unit issue time) that is not more than 2 years earlier, units in the trust were first issued; and
 (c) at no time during the period (the start‑up period) between the first unit issue time and the first qualifying time was there any abnormal trading, of a kind covered by subsection 269‑15(1) or section 269‑20, in the trust's units; and
 (d) at all times in the part (if any) of the start‑up period that occurred more than 90 days after it began, the trust was a widely held unit trust;
the trust is taken to have been an unlisted very widely held trust at all times from the formation of the trust until the end of the start‑up period.

Subdivision 272‑I—Wholesale widely held trust

272‑125  Wholesale widely held trust
 (1) Subject to Subdivision 272‑J, a unit trust is a wholesale widely held trust at a particular time (the test time) if:
 (a) it is an unlisted widely held trust at the test