Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-45
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RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS
Division 394
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Forestry managed investment schemes
SECTION 394-15
Forestry managed investment schemes and related concepts
394-15(1)
A * scheme is a forestry managed investment scheme if the purpose of the scheme is for establishing and tending trees for felling in Australia.
394-15(2)
The entity that manages, arranges or promotes a * forestry managed investment scheme is the forestry manager of the scheme.
394-15(3)
A forestry interest in a * forestry managed investment scheme is a right to benefits produced by the scheme (whether the right is actual, prospective or contingent and whether it is enforceable or not).
394-15(4)
An entity that holds a * forestry interest in a * forestry managed investment scheme (other than the * forestry manager of the scheme) is a participant in the scheme.
394-15(5)
A * participant in a * forestry managed investment scheme holds a * forestry interest in the scheme as an initial participant if:
(a) the participant obtains the forestry interest from the * forestry manager of the scheme; and
(b) the payment by the participant to obtain the forestry interest results in the establishment of trees.
View history note
Hide history noteA * scheme is a forestry managed investment scheme if the purpose of the scheme is for establishing and tending trees for felling in Australia.
394-15(2)
The entity that manages, arranges or promotes a * forestry managed investment scheme is the forestry manager of the scheme.
394-15(3)
A forestry interest in a * forestry managed investment scheme is a right to benefits produced by the scheme (whether the right is actual, prospective or contingent and whether it is enforceable or not).
394-15(4)
An entity that holds a * forestry interest in a * forestry managed investment scheme (other than the * forestry manager of the scheme) is a participant in the scheme.
394-15(5)
A * participant in a * forestry managed investment scheme holds a * forestry interest in the scheme as an initial participant if:
(a) the participant obtains the forestry interest from the * forestry manager of the scheme; and
(b) the payment by the participant to obtain the forestry interest results in the establishment of trees.