South Australian Current Acts

CIVIL LIABILITY ACT 1936 - SECT 50B

50B—Meaning of associated trust

        (1)         For the purposes of this Part, a trust is an "associated trust of an institution if the institution uses the trust to carry out its functions or activities and—

            (a)         the institution has, directly or indirectly, any of the following powers:

                  (i)         a power to control the application of income of the trust or the distribution of property of the trust;

                  (ii)         a power to obtain the beneficial enjoyment of the property or income of the trust, with or without the consent of another entity;

                  (iii)         a power to appoint or remove a trustee or beneficiary of the trust;

                  (iv)         a power to determine the outcome of any other decision about the trust's operations; or

            (b)         a member or manager of the institution has, under the trust deed for the trust, a power mentioned in paragraph (a); or

            (c)         a trustee is accustomed to acting, or is under a formal or informal obligation to act, according to the directions, instructions or wishes of the institution or a member or manager of the institution.

        (2)         A reference in Division 5 or Division 6 to an associated trust of an institution includes a trust in relation to which an order is in force under section 50J(5) (in relation to any abuse claim against the institution).