79What are *interests* and *significant interests* in landholders?

79 What are *interests* and *significant interests* in landholders? (1) A person has an ***interest*** in a landholder if the person has an entitlement (otherwise than as a creditor or other person to whom the landholder is liable), whether directly or through another person, to a distribution of property from the landholder on a winding up of the landholder. (2) A person who, by virtue of subsection (1), has an interest in a landholder has a ***significant interest*** in the landholder if the person, in the event of a distribution of all the property of the landholder immediately after the interest was acquired, would be entitled to— (a) in the case of a landholder that is a private unit trust scheme—20% or more of the property distributed; or (b) in the case of a landholder that is a private company or wholesale unit trust scheme—50% or more of the property distributed; or (c) in the case of a landholder that is a listed company or public unit trust scheme—90% or more of the property distributed. Note to s. 79(2) inserted by No. 47/2020 s. 12. For 3 years following a corporate consolidation, in certain circumstances a landholder that is not a private unit trust scheme is taken to be a private unit trust scheme in determining if a person makes a relevant acquisition—see section 250DG. ***person*** includes a landholder; ***winding up*** of a landholder that is a unit trust scheme means the vesting of the trust property in the beneficiaries. Section 89H is relevant to ascertaining a person's entitlements on a distribution of property. S. 80 substituted by No. 38/2012 s. 5.