42Acquisitions and disposals of trust property by trustee companies

#### 42 Acquisitions and disposals of trust property by trustee companies (1) ASIC may require a trustee company to disclose to it, in relation to an acquisition or disposal of trust property by the trustee company, all or any of the following: (a) the name of: (i) the person from or through whom the trust property was acquired; or (ii) the person to or through whom the trust property was disposed; (b) whether the acquisition or disposal was effected on the instructions of another person, and the nature of any such instructions; (c) the names of the beneficiaries of the trust. > Note: Failure to comply with a requirement made under this subsection is an offence (see section 63). (2) Information required to be disclosed under this section need only be disclosed to the extent to which it is known to the person required to make the disclosure. > Note: In criminal proceedings, a defendant bears an evidential burden in relation to the matters in subsection (2). (3) An offence under subsection 63(2) relating to subsection (1) of this section is an offence of strict liability. > Note: For strict liability, see section 6.1 of the Criminal Code.