Income Tax Assessment Act 1997
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.
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