Document ID: chunk:federal_register_of_legislation:C2011A00147:clause:8_41
Version: federal_register_of_legislation:C2011A00147
Segment Type: clause
Provision Reference: sch 8 cl 41
Character Range: 45015–45836

41  Transitional provision—transfer of property
For the purposes of item 2 of the column headed "Recipient" of the table in subsection 30‑15(2) of the Income Tax Assessment Act 1997, disregard a transfer of all of the property of the trust to another public ancillary fund if:
 (a) the other fund is a deductible gift recipient; and
 (b) at least one of the following subparagraphs applies:
 (i) every trustee of the other fund is a *constitutional corporation;
 (ii) the only trustee of the other fund is the Public Trustee of a State or Territory, or is prescribed by the regulations for the purposes of subparagraph 426‑102(1)(a)(ii) in Schedule 1 to the Taxation Administration Act 1953; and
 (c) the transfer happens during the period mentioned in item 39.

Part 2—Minor amendments

Income Tax Assessment Act 1936