New South Wales Consolidated Acts

DUTIES ACT 1997 - SECT 147

147 What are the "land holdings" of a landholder?

(1) For the purposes of this Chapter, a
"land holding" is an interest in land other than the estate or interest of a mortgagee, chargee or other secured creditor, subject to this section.

(2) An interest in land is a land holding of a unit trust scheme only to the extent that the interest is held by the trustee of the unit trust scheme in its capacity as trustee of the scheme, by a custodian of the trustee of the unit trust scheme in its capacity as custodian or by a sub-custodian of the custodian of the trustee of the unit trust scheme in its capacity as sub-custodian.

(3) An interest in land is not a land holding of a company if the company holds the land on trust, but only if the company is not a beneficiary of the trust.

(4) This section is in aid of, but does not limit, the operation of any provision of this Chapter providing for constructive ownership of interests.

Note : In relation to interests in land, see also clause 4 of the Dictionary.