Section sch.2-sec.10 - Co-operatives National Law (Queensland) - Exclusions—certain trustees

sch.2-sec.10Exclusions—certain trustees

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sch.2-sec.10 Exclusions—certain trustees

A relevant interest of a person in a share or right to vote is to be disregarded if— the share or right is subject to a trust; and the person has the relevant interest as a trustee of the trust; and either— a beneficiary under the trust is taken under clause 5 to have a relevant interest in the share or right because the beneficiary has a presently enforceable and unconditional right referred to in clause 5 (b); or the person is a bare trustee.

(a) the share or right is subject to a trust; and
(b) the person has the relevant interest as a trustee of the trust; and
(c) either— (i) a beneficiary under the trust is taken under clause 5 to have a relevant interest in the share or right because the beneficiary has a presently enforceable and unconditional right referred to in clause 5 (b); or (ii) the person is a bare trustee.
(i) a beneficiary under the trust is taken under clause 5 to have a relevant interest in the share or right because the beneficiary has a presently enforceable and unconditional right referred to in clause 5 (b); or
(ii) the person is a bare trustee.
(i) a beneficiary under the trust is taken under clause 5 to have a relevant interest in the share or right because the beneficiary has a presently enforceable and unconditional right referred to in clause 5 (b); or
(ii) the person is a bare trustee.