Western Australian Current Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

DUTIES ACT 2008 - SECT 160

160 .         How person acquires interest in entity

        (1)         A person acquires an interest in an entity if —

            (a)         the person obtains an interest in the entity; or

            (b)         the person’s interest in the entity increases,

                regardless of how it is obtained or increased.

        (2)         Without limiting subsection (1), a person may acquire an interest in a corporation or a unit trust scheme in the following ways —

            (a)         by the purchase, gift, allotment or issue of a share or unit;

            (b)         by the cancellation, redemption or surrender of a share or unit;

            (c)         by the abrogation or alteration of any right in respect of a share or unit;

            (d)         by the payment of an amount owing for a share or unit.

        (3)         To remove any doubt, it is declared that an interest in a corporation or a unit trust scheme may be acquired without the acquisition of shares in the corporation or units in the scheme.

        (4)         This section is subject to section 160A.

        [Section 160 amended: No. 12 of 2019 s. 70.]



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback