Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A * scheme is a forestry managed investment scheme if the purpose of the scheme is for establishing and tending trees for felling in Australia.
(2) The entity that manages, arranges or promotes a * forestry managed investment scheme is the forestry manager of the scheme.
(3) A forestry interest in a * forestry managed investment scheme is a right to benefits produced by the scheme (whether the right is actual, prospective or contingent and whether it is enforceable or not).
(4) An entity that holds a * forestry interest in a * forestry managed investment scheme (other than the * forestry manager of the scheme) is a participant in the scheme.
(5) A * participant in a * forestry managed investment scheme holds a * forestry interest in the scheme as an initial participant if:
(a) the participant obtains the forestry interest from the * forestry manager of the scheme; and
(b) the payment by the participant to obtain the
forestry interest results in the establishment of trees.