sec.160Interest in landholder is percentage of distributable property on winding up of a corporation or termination of a listed unit trust

### sec.160 Interest in landholder is percentage of distributable property on winding up of a corporation or termination of a listed unit trust A person’s interest in a landholder is the person’s entitlement expressed as a percentage of the value of all of the landholder’s property that would be distributed if, immediately after the person acquires the interest— for a corporation—the corporation were to be wound up; or for a listed unit trust—the trust were to be terminated. If the landholder’s property includes property held for a partnership of which the landholder is a partner, all of the property held for the partnership is taken for subsection (1) to be property that could be distributed, regardless of the landholder’s interest in the partnership. s 160 sub 2011 No. 20 s 70 amd 2019 No. 20 s 8 (sec.160-ssec.1) A person’s interest in a landholder is the person’s entitlement expressed as a percentage of the value of all of the landholder’s property that would be distributed if, immediately after the person acquires the interest— for a corporation—the corporation were to be wound up; or for a listed unit trust—the trust were to be terminated. (sec.160-ssec.2) If the landholder’s property includes property held for a partnership of which the landholder is a partner, all of the property held for the partnership is taken for subsection (1) to be property that could be distributed, regardless of the landholder’s interest in the partnership. - (a) for a corporation—the corporation were to be wound up; or - (b) for a listed unit trust—the trust were to be terminated.