Australian Capital Territory Numbered Acts Australian Capital Territory Numbered Actsinsert
Chapter 16 Transitional—Duties (Landholders) Amendment Act 2008
440 Application of pt 3.2 to existing private unit trust schemes
(1) In this section:
"commencement day" means the day the Duties (Landholders) Amendment Act 2008 , section 4 commences.
(2) This section applies to a private unit trust scheme that was a public unit trust scheme immediately before the commencement day.
(3) Despite anything in part 3.2 (Acquisition of interests in certain landholders), the private unit trust scheme is not taken to be an entity.
(4) This section ceases to apply to the private unit trust scheme on the happening of the earliest of the following:
(a) the expiry of 12 months after the commencement day;
(b) the registration of the unit trust scheme under part 3.2A (Registration of unit trust schemes);
(c) the unit trust scheme becoming a listed trust or widely held trust.
(5) This section is a law to which the Legislation Act, section 88 (Repeal does not end effect of transitional laws etc) applies.
441 Transitional regulations—ch 16
(1) A regulation may prescribe transitional matters necessary or convenient to be prescribed because of the enactment of the Duties (Landholders) Amendment Act 2008 .
(2) A regulation may modify this chapter (including in its operation in relation to another territory law) to make provision in relation to anything that, in the Executive's opinion, is not, or is not adequately or appropriately, dealt with in this chapter.
(3) A regulation under subsection (2) has effect despite anything elsewhere in this Act.
442 Expiry—ch 16
This chapter expires 2 years after the day this section commences.