Western Australian Current Acts

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DUTIES ACT 2008 - SECT 162

162 .         Related persons for s. 163

        (1)         For the purposes of section 163 the following persons or entities are related persons —

            (a)         individuals who are spouses, or de facto partners, of each other;

            (b)         individuals between whom the relationship is that of parent and child;

            (c)         related corporations;

            (d)         a trustee and another trustee if there is any beneficiary common to the trusts of which they are trustees, whether the beneficiary has a vested share or is contingently entitled or is a potential beneficiary under a discretionary trust;

            (e)         an individual and a corporation if the individual is a majority shareholder, director or secretary of the corporation or a related corporation;

            (f)         an individual and a trustee if the individual is a beneficiary under the trust of which the trustee is a trustee, whether the person has a vested share or is contingently entitled or is a potential beneficiary under a discretionary trust;

            (g)         a corporation and a trustee if —

                  (i)         the corporation or a majority shareholder, director or secretary of the corporation is a beneficiary under the trust of which the trustee is a trustee; or

                  (ii)         a related corporation to the corporation is a beneficiary under the trust of which the trustee is a trustee,

                whether the beneficiary has a vested share or is contingently entitled or is a potential beneficiary under a discretionary trust;

            (h)         persons or entities that acquire interests in a landholder by virtue of acquisitions that together form, evidence, give effect to or arise from what is, substantially one arrangement;

                  (i)         persons or entities that acquire interests in a landholder by virtue of acquisitions that arise from those persons or entities acting in concert with each other.

        (1A)         Subsection (1)(h) and (i) do not apply —

            (a)         in circumstances where the acquisitions result from a public float; or

            (b)         in prescribed circumstances.

        (2)         If the Commissioner is satisfied, in the case of a particular acquisition of an interest in an entity, that subsection (3) applies to persons that would otherwise be related persons under subsection (1), the Commissioner may determine that, despite that subsection, the persons are not related persons for the purposes of section 163.

        (2A)         The Commissioner cannot make a determination under subsection (2) in relation to persons or entities that are related persons under subsection (1)(c), (h) or (i).

        (3)         This subsection applies to persons if their interests in the entity —

            (a)         were acquired independently and are, and will be, employed independently; and

            (b)         were not acquired for a common purpose and are not, and will not be, employed for a common purpose.

        [Section 162 amended: No. 12 of 2019 s. 73.]



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