Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 (76 of 2023)

Schedule 2   ALRC Financial Services Interim Report: single glossary of defined terms

Part 1   Amendments

Division 2   Terms in general use

Corporations Act 2001

20   Section 9 (definition of interest)

Repeal the definition, substitute:

interest :

(a) interest in relation to land includes:

(i) a legal or equitable estate or interest in the land; or

(ii) a right, power or privilege over, or in relation to, the land; and

(b) interest in a managed investment scheme (including a notified foreign passport fund) means a right to benefits produced by the scheme (whether the right is actual, prospective or contingent and whether it is enforceable or not); and

(c) in Part 5D.5 (limit on control of licensed trustee companies) interests of clients of a licensed trustee company - has a meaning affected by section 601VCB.