Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 39

39. A relevant interest of a person in a share shall be disregarded if the
share is subject to a trust, the person has the relevant interest as a trustee
of the trust and:

   (a)  a beneficiary under the trust is by section 34 deemed to have a
        relevant interest in the share because the beneficiary has a presently
        enforceable and unconditional right referred to in paragraph 34 (b);
        or

   (b)  the person is a bare trustee.