Tax Laws Amendment (2009 Measures No. 4) Act 2009 (88 of 2009)

Schedule 2   Private ancillary funds

Part 3   Transitional provisions

Division 3   Transitional private ancillary funds

29   Transitional - agreement to comply with private ancillary fund guidelines

(1) For the purposes of Subdivision 426-D in Schedule 1 to theTaxation Administration Act 1953, each of the trustees of the trust is taken to have agreed, at the commencement time and in accordance with paragraph 426-105(1)(b) in that Schedule, to comply with the rules in the private ancillary fund guidelines, as in force from time to time.

(2) To avoid doubt, subitem (1) does not prevent a trustee from revoking that agreement at a later time as mentioned in paragraph 426-105(1)(c) in that Schedule.


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).