Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 601RAD

Meaning of person with a proper interest

             (1)  A person with a proper interest , in relation to an estate, includes (but is not limited to) the following:

                     (a)  ASIC;

                     (b)  in relation to a charitable trust:

                              (i)  the settlor, or one of the settlors, of the trust; or

                             (ii)  a person who, under the terms of the trust, has power to appoint or remove a trustee of the trust or to vary (or cause to be varied) any of the terms of the trust; or

                            (iii)  a Minister of a State or Territory who has responsibilities relating to charitable trusts; or

                            (iv)  a person who is named in the instrument establishing the trust as a person who may receive payments on behalf of the trust; or

                             (v)  a person who is named in the instrument establishing the trust as a person who must, or may, be consulted by the trustee or trustees before distributing or applying money or other property for the purposes of the trust; or

                            (vi)  a person of a class that the trust is intended to benefit;

                     (c)  in the case of the estate of a deceased person:

                              (i)  if the person died testate--a beneficiary under the person's will; or

                             (ii)  if the person died intestate--a person who, under a law of a State or Territory, has, or is entitled to, an interest in the deceased's estate;

                     (d)  in the case of any other trust:

                              (i)  the settlor, or one of the settlors, of the trust; or

                             (ii)  a person who, under the terms of the trust, has power to appoint or remove a trustee of the trust or to vary (or cause to be varied) any of the terms of the trust; or

                            (iii)  a beneficiary of the trust;

                     (e)  in relation to an application to a court relating to the estate--a person that the court considers, in the circumstances of the case, has a proper interest in the estate;

                      (f)  a person prescribed by the regulations as having a proper interest in the estate;

                     (g)  if a person covered by any of the above paragraphs is under a legal disability--an agent of the person.

             (2)  None of the paragraphs or subparagraphs of subsection (1) limits, or is limited by, any of the other paragraphs or subparagraphs of that subsection.



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