Western Australian Consolidated Acts Western Australian Consolidated Acts (1) Subject to
subsection (2) if by a relevant acquisition a person, in the
person’s capacity as a trustee, acquires a majority interest, a further
interest, a controlling interest or an additional interest in a WA company or
a corporation, this Part applies as if the person had acquired the interest
beneficially.
(2) If the combined
interest in the WA company or corporation of a beneficiary and any person
related to the beneficiary is greater than the combined interest of the
trustee and any person related to the trustee —
(a) the
relevant acquisition is taken to have been made by the beneficiary;
(b) the
section 76AG statement, section 76AN statement, section 76AT
statement or section 76ATG statement lodged by the trustee in relation to
the relevant acquisition is taken to have been lodged by the beneficiary; and
(c)
the section 76AG statement, section 76AN statement,
section 76AT statement or section 76ATG statement is chargeable with
duty accordingly.
(3) In this
section —
beneficiary means a person beneficially entitled
to the interest in the WA company or corporation acquired by the trustee,
whether the person’s interest is vested, contingent or discretionary;
interest , controlling interest and additional
interest —
(a) in
relation to a section 76AT statement, have the meanings given by
section 76ATD; and
(b) in
relation to a section 76ATG statement, have the meanings given by
section 76ATK;
interest , majority interest and further interest
—
(a) in
relation to a section 76AG statement, have the meanings given by
section 76AK; and
(b) in
relation to a section 76AN statement, have the meanings given by
section 76AR;
relevant acquisition has the meaning given by
section 76AJ, 76AQ, 76ATC or 76ATJ (as the case requires).
[Section 76A inserted by No. 2 of 2003
s. 86; amended by No. 66 of 2003 s. 58; No. 11 of 2004
s. 18.]