47Wholesale unit trust schemes

#### 47 Wholesale unit trust schemes 47 Wholesale unit trust schemes > > (1) A unit trust scheme that is a wholesale unit trust scheme, within the meaning of the former wholesale unit trust scheme definition, is taken to be wholesale unit trust scheme for the purposes of Chapter 4A. > > > (2) Subclause (1) ceases to apply in respect of a unit trust scheme— > > > > > (a) at the end of the transitional period, or > > > > > (b) on the actual registration of the unit trust scheme as a wholesale unit trust scheme under Chapter 4A, or > > > > > (c) on the unit trust scheme becoming a listed trust or widely held trust, > > > > whichever happens first. > > > (3) For the purposes of this clause, the transitional period means the period commencing on the commencement of Schedule 1 to the amending Act and ending at the end of— > > > > > (a) 30 June 2005, or > > > > > (b) such later date as may be fixed by the Chief Commissioner, by order published in the Gazette. > > > (4) In this clause— > > > > former wholesale unit trust scheme definition means paragraph (a) of the definition of wholesale unit trust scheme as in force under this Act immediately before the commencement of Schedule 1 to the amending Act.