sec.101Conditions for creation of trusts and particular trust acquisitions

### sec.101 Conditions for creation of trusts and particular trust acquisitions The conditions applying to a dutiable transaction mentioned in section 97 (1) (d) are as follows— the trust is a family trust for the acquirer; the beneficiary of the trust is a minor, and— if the business property is used to carry on the business of primary production—the minor is a defined relative of the person creating the trust; or otherwise—the minor is a descendant of the person creating the trust; there are no other beneficiaries of the trust other than a person who would become a beneficiary of the trust on the death of the beneficiary mentioned in paragraph (b) ; the acquirer does not acquire the interest as agent or nominee of another person; the business for which the business property is used is carried on by the person creating the trust, whether alone or with others; the business is intended to be carried on for the beneficiary, whether alone or with others. s 101 amd 2014 No. 35 s 7 - (a) the trust is a family trust for the acquirer; - (b) the beneficiary of the trust is a minor, and— (i) if the business property is used to carry on the business of primary production—the minor is a defined relative of the person creating the trust; or (ii) otherwise—the minor is a descendant of the person creating the trust; - (i) if the business property is used to carry on the business of primary production—the minor is a defined relative of the person creating the trust; or - (ii) otherwise—the minor is a descendant of the person creating the trust; - (c) there are no other beneficiaries of the trust other than a person who would become a beneficiary of the trust on the death of the beneficiary mentioned in paragraph (b) ; - (d) the acquirer does not acquire the interest as agent or nominee of another person; - (e) the business for which the business property is used is carried on by the person creating the trust, whether alone or with others; - (f) the business is intended to be carried on for the beneficiary, whether alone or with others. - (i) if the business property is used to carry on the business of primary production—the minor is a defined relative of the person creating the trust; or - (ii) otherwise—the minor is a descendant of the person creating the trust;