71Meaning of *landholder*

71 Meaning of *landholder* (1) For the purposes of this Part, a ***landholder*** is any of the following that has land holdings in Victoria with a total unencumbered value of $1 000 000 or more— (a) a private unit trust scheme; (b) a private company; (c) a wholesale unit trust scheme; (d) a listed company; (e) a public unit trust scheme. (2) For the purposes of this Part, a landholder may hold land— (a) in accordance with section 72; (b) under an uncompleted agreement in accordance with section 74; (c) through a linked entity in accordance with section 75; (d) through a discretionary trust in accordance with section 76. (3) A ***private landholder*** is a landholder that is a private unit trust scheme, private company or wholesale unit trust scheme. (4) A ***public landholder*** is a landholder that is a listed company or a public unit trust scheme. S. 71(5) inserted by No. 28/2017 s. 43. (5) A landholder that is a private company is taken to be a listed company or a landholder that is a private unit trust scheme is taken to be a public unit trust scheme for the purposes of this Part if— (a) all the shares in the company or units in the unit trust scheme are quoted on an exchange that was previously a member of the World Federation of Exchanges; and (b) all the shares in the company or units in the unit trust scheme have been quoted on the exchange referred to in paragraph (a) for a period of 12 months or more; and (c) the Commissioner is satisfied it is appropriate for the landholder to be treated as a listed company or public unit trust scheme. S. 72 substituted by No. 38/2012 s. 5.