Australian Capital Territory Numbered Acts

DUTIES (LANDHOLDERS) AMENDMENT ACT 2008 (NO. 31 OF 2008) - SECT 5

substitute

86     What is a relevant acquisition ?—pt 3.2

    (1)     For this part, a person is taken to have made a relevant acquisition if the person—

        (a)     acquires an interest in a landholder—

              (i)     that is of itself a significant interest in the landholder; or

              (ii)     that, when aggregated with other interests in the landholder held by the person or an associated person, results in an aggregation that amounts to a significant interest in the landholder; or

              (iii)     that, when aggregated with other interests in the landholder acquired by the person or other people in an associated transaction, results in an aggregation that amounts to a significant interest in the landholder; or

        (b)     having an interest described in paragraph (a) in a landholder, acquires a further interest in the landholder.

    (2)     For this part, a person in their capacity as a qualifying investor of a wholesale unit trust scheme is taken not to be an associated person of other qualifying investors in relation to the scheme.

Note     Associated person —see s 83A.

    (3)     In this section:

"associated transaction", in relation to the acquisition of an interest in a landholder by a person, means an acquisition of an interest in the landholder by another person in circumstances in which—

        (a)     those people are acting in concert; or

        (b)     the acquisitions form, are evidence of, give effect to or arise from substantially 1 arrangement, 1 transaction or 1 series of transactions.

"qualifying investor"—see section 95D.