TAXATION (UNPAID COMPANY TAX) ASSESSMENT ACT 1982

***** Repealed 22 September 1999 *****

SECTION 14   CHANGE OF TRUSTEE  

14(1)  [Sale by former trustee]  

Where:

(a)  a person who was the holder, or one of the joint holders, of shares in the capacity of trustee of a trust estate sold the shares, or his interest in the shares; and

(b)  at a later time, another person is trustee of that trust estate,

for the purposes of the application of this Act in relation to that later time, the shares or interest shall be taken to have been sold by the trustee referred to in paragraph (b) and not by the trustee referred to in paragraph (a).

14(2)  [Purchase by former trustee]  

Where:

(a)  a person purchased shares in the capacity of trustee of a trust estate; and

(b)  at a later time, another person is trustee of that trust estate,

for the purposes of the application of this Act (other than paragraphs 7(8)(c) and (8)(f)) in relation to that later time, the shares shall be taken to have been purchased by the trustee referred to in paragraph (b) and not by the trustee referred to in paragraph (a).

 

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