sec.76BApproval of particular foreign unit holder as qualified holder

### sec.76B Approval of particular foreign unit holder as qualified holder The trustee of a unit trust may apply to the commissioner for the approval, for section 76 (1) (f) , of a stated person who holds units in the trust (the unit holder ). The application must— be in the approved form; and be supported by enough information to enable the commissioner to decide the application. The commissioner may approve the application if satisfied the unit holder holds the units in a capacity that, under the law of a foreign country or external Territory, corresponds to— an entity mentioned in section 76 (1) (a) other than the trustee of a declared public unit trust; or an entity mentioned in section 76 (1) (b) to (d) . If the commissioner reasonably requires advice about a particular matter before deciding the application, the commissioner may refuse to deal further with the application until the applicant pays, or agrees to pay, the reasonable costs of obtaining the advice. The commissioner may give approval subject to conditions the commissioner considers appropriate. A condition may state that the approval ends if there is a particular change in the circumstances of the person to whom the approval relates. The commissioner must give notice of the decision on the application to the applicant. If, because of the decision, the commissioner makes an assessment on the basis that a particular person is not approved, or is approved on stated conditions, an objection to the decision may be made as part of an objection to the assessment. For objections and appeals against assessments, see the Administration Act , part 6 . An approval takes effect on the day it is given or on the later day stated in the notice of the decision to give the approval. s 76B ins 2008 No. 75 s 13 (retro) (sec.76B-ssec.1) The trustee of a unit trust may apply to the commissioner for the approval, for section 76 (1) (f) , of a stated person who holds units in the trust (the unit holder ). (sec.76B-ssec.2) The application must— be in the approved form; and be supported by enough information to enable the commissioner to decide the application. (sec.76B-ssec.3) The commissioner may approve the application if satisfied the unit holder holds the units in a capacity that, under the law of a foreign country or external Territory, corresponds to— an entity mentioned in section 76 (1) (a) other than the trustee of a declared public unit trust; or an entity mentioned in section 76 (1) (b) to (d) . (sec.76B-ssec.4) If the commissioner reasonably requires advice about a particular matter before deciding the application, the commissioner may refuse to deal further with the application until the applicant pays, or agrees to pay, the reasonable costs of obtaining the advice. (sec.76B-ssec.5) The commissioner may give approval subject to conditions the commissioner considers appropriate. A condition may state that the approval ends if there is a particular change in the circumstances of the person to whom the approval relates. (sec.76B-ssec.6) The commissioner must give notice of the decision on the application to the applicant. (sec.76B-ssec.7) If, because of the decision, the commissioner makes an assessment on the basis that a particular person is not approved, or is approved on stated conditions, an objection to the decision may be made as part of an objection to the assessment. For objections and appeals against assessments, see the Administration Act , part 6 . (sec.76B-ssec.8) An approval takes effect on the day it is given or on the later day stated in the notice of the decision to give the approval. - (a) be in the approved form; and - (b) be supported by enough information to enable the commissioner to decide the application. - (a) an entity mentioned in section 76 (1) (a) other than the trustee of a declared public unit trust; or - (b) an entity mentioned in section 76 (1) (b) to (d) .