Western Australian Numbered Acts Western Australian Numbered Acts (1) This section
applies where it is necessary to determine in relation to an acquisition of an
interest in an entity whether the entity is a landholder for the purposes of
section 163 or 164.
(2) A corporation is a
landholder if immediately before the acquisition —
(a) it
is entitled to land in Western Australia or an entity linked to the
corporation is so entitled; and
(b) the
total value of all such entitlements is $2 000 000 or more.
(3) A unit trust
scheme is a landholder if immediately before the acquisition —
(a) the
trustee of the scheme is entitled to land in Western Australia or an entity
linked to the unit trust scheme is so entitled; and
(b) the
total value of all such entitlements is $2 000 000 or more.
(4)
For the purposes of subsections (2)(a)
and (3)(a) —
(a) a
partnership, as a linked entity, is entitled to land in Western Australia if
the partnership property is or includes such land; and
(b) a
unit trust scheme, as a linked entity, is entitled to land in Western
Australia if the trustee of the scheme is so entitled.
(5) For the purposes
of this section —
(a) land
to which a corporation or the trustee of a unit trust scheme is entitled is to
be valued at its unencumbered value; and
(b) the
value of a linked entity’s entitlement to land is to be determined under
section 157.