158Meaning of “linked entity”

#### 158 Meaning of “linked entity” 158 Meaning of “linked entity” > > (1) A linked entity of a private unit trust scheme or private company (a principal entity) means an entity (other than a public unit trust scheme or a listed company) that is part of a chain of entities— > > > > > (a) that starts with the principal entity and is comprised of one or more links, and > > > > > (b) in which one or both of the following apply— > > > > > > > (i) at each link between 2 entities in the chain—one of the entities would be entitled, in the event of a distribution of all the property of the other entity (and without regard to any liabilities of any entity in the chain), to receive not less than 20% of the value of the property of the other entity, > > > > > > > (ii) in the event of the distribution of all of the property of entities in the chain (except for the principal entity)—the principal entity would be entitled (without regard to any liabilities of any entity in the chain) to receive not less than 20% of the value of that property. > > > (2) A linked entity of a public unit trust scheme or listed company (a principal entity) means an entity that is part of a chain of entities— > > > > > (a) that starts with the principal entity and is comprised of one or more links, and > > > > > (b) in which, at each link between 2 entities in the chain—one of the entities would be entitled, in the event of a distribution of all the property of the other entity (and without regard to any liabilities of any entity in the chain), to receive not less than 20% of the value of the property of the other entity. > > > (3) For the purposes of this section— > > > > > (a) a trust is to be regarded as entitled to receive property (whether as a principal entity or as a linked entity of a principal entity) if a trustee of the trust is entitled to receive the property in its capacity as a trustee, and > > > > > (b) a partnership or other unincorporated body is to be regarded as entitled to receive property, as a linked entity of a principal entity, if a member of the partnership or other unincorporated body is entitled to receive the property as a member of the partnership or the other unincorporated body. > > > (4) In this section and in section 158A— > > > > entity means any of the following— > > > > > (a) a corporation, > > > > > (b) a unit trust scheme, > > > > > (c) a trust, > > > > > (d) a partnership or other unincorporated body. > > > (5) In this section and in section 158A— > > > > > (a) a reference to a trust includes a reference to a unit trust scheme, and > > > > > (b) a reference to a trustee of a trust includes a reference to a custodian of the trustee of the trust in its capacity as custodian or a sub-custodian of the custodian of the trustee of the trust in its capacity as sub-custodian. > > **s 158:** Ins 2009 No 51, Sch 1.2 \[2\]. Am 2009 No 91, Sch 1 \[11\] \[12\]; 2010 No 46, Sch 1.3 \[24\]. Subst 2017 No 11, Sch 1 \[26\]. Am 2023 No 26, Sch 1\[9\].