305Person to whom property belongs for pt 3.2

305 Person to whom property belongs for pt 3.2 (1) If property belongs to 2 or more people, a reference to the person to whom the property belongs is taken to be a reference to each of them. (2) If property is subject to a trust— (a) the person to whom the property belongs includes anyone who has a right to enforce the trust; and (b) an intention to defeat the trust is an intention to deprive any such person of the property. (3) Property of a corporation sole belongs to the corporation despite a vacancy in the corporation. (4) If a person (A) receives property from or on account of someone else (B) and is under a legal obligation to B to retain and deal with the property or its proceeds in a particular way, the property or proceeds belong to B, as against A. (5) If a person (A) gets property by someone else’s fundamental mistake and is under a legal obligation to make restoration (in whole or part) of the property, its proceeds or its value— (a) the property or its proceeds belong (to the extent of the obligation and as against A) to the person entitled to restoration (B); and (b) an intention not to make restoration is— (i) an intention to permanently deprive B of the property or proceeds; and (ii) an appropriation of the property or proceeds without B’s consent.

Interpretation for pt 3.2 Division 3.2.1 fundamental mistake, in relation to property, means— (a) a mistake about the identity of the person getting the property; or (b) a mistake about the essential nature of the property; or (c) a mistake about the amount of any money, if the person getting the money is aware of the mistake when getting the money. money includes anything that is equivalent to money. Examples of things equivalent to money 1 a cheque or other negotiable instrument 2 an electronic funds transfer