Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section sets out how to apply Division 275 to a trust that is a * CCIV sub - fund trust.
Determining whether the trust is a managed investment trust
(2) Section 275 - 10 has effect in relation to the trust as if the following paragraph were substituted for paragraph 275 - 10(3)(c):
(c) at the time the payment is made, the * sub - fund is being used for collective investment by pooling the contributions of the * members of the sub - fund as consideration to acquire rights to benefits produced from those contributions; and
(3) In applying section 275 - 10 to the trust, disregard the following provisions:
(a) paragraph 275 - 10(3)(d);
(b) paragraph 275 - 10(3)(g).
(4) Section 275 - 10 has effect in relation to the trust as if the following paragraph were substituted for paragraph 275 - 10(3)(e):
(e) the trust satisfies, in relation to the income year:
(i) if, at the time the payment is made, the trust is covered by section 275 - 15--either or both of the widely - held requirements in subsection 275 - 20(1) and 275 - 25(1); or
(ii) if, at the time the payment is made, the trust is not covered by section 275 - 15--either or both of the widely - held requirements in subsections 275 - 20(2) and 275 - 25(1); and
Determining whether the trust is a trust with wholesale membership
(5) In applying section 275 - 15 to the trust, disregard paragraph 275 - 15(a).
Determining whether the trust satisfies the widely - held requirements
(6) In applying section 275 - 45 to the trust, disregard paragraph 275 - 45(1)(d).