sec.99Conditions for partnership acquisitions

### sec.99 Conditions for partnership acquisitions The conditions applying to a dutiable transaction mentioned in section 97 (1) (b) are as follows— the partnership is a family partnership for the acquirer; the transferor or person directing the acquisition is— if the business property is used to carry on a business of primary production—a defined relative of the acquirer; or otherwise—an ancestor of the acquirer; the acquirer does not acquire the partnership interest as— trustee, other than as trustee of a trust for the beneficiaries mentioned in subsection (2) ; or agent or nominee of another person; the business for which the business property is used is carried on by the defined relative or ancestor with the other partners; the business is intended to be carried on by the acquirer, whether alone or with other partners. For subsection (1) (c) (i) — the beneficiary of the trust is a minor, and— if the business property is used to carry on a 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; and 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 (a) . s 99 amd 2014 No. 35 s 5 (sec.99-ssec.1) The conditions applying to a dutiable transaction mentioned in section 97 (1) (b) are as follows— the partnership is a family partnership for the acquirer; the transferor or person directing the acquisition is— if the business property is used to carry on a business of primary production—a defined relative of the acquirer; or otherwise—an ancestor of the acquirer; the acquirer does not acquire the partnership interest as— trustee, other than as trustee of a trust for the beneficiaries mentioned in subsection (2) ; or agent or nominee of another person; the business for which the business property is used is carried on by the defined relative or ancestor with the other partners; the business is intended to be carried on by the acquirer, whether alone or with other partners. (sec.99-ssec.2) For subsection (1) (c) (i) — the beneficiary of the trust is a minor, and— if the business property is used to carry on a 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; and 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 (a) . - (a) the partnership is a family partnership for the acquirer; - (b) the transferor or person directing the acquisition is— (i) if the business property is used to carry on a business of primary production—a defined relative of the acquirer; or (ii) otherwise—an ancestor of the acquirer; - (i) if the business property is used to carry on a business of primary production—a defined relative of the acquirer; or - (ii) otherwise—an ancestor of the acquirer; - (c) the acquirer does not acquire the partnership interest as— (i) trustee, other than as trustee of a trust for the beneficiaries mentioned in subsection (2) ; or (ii) agent or nominee of another person; - (i) trustee, other than as trustee of a trust for the beneficiaries mentioned in subsection (2) ; or - (ii) agent or nominee of another person; - (d) the business for which the business property is used is carried on by the defined relative or ancestor with the other partners; - (e) the business is intended to be carried on by the acquirer, whether alone or with other partners. - (i) if the business property is used to carry on a business of primary production—a defined relative of the acquirer; or - (ii) otherwise—an ancestor of the acquirer; - (i) trustee, other than as trustee of a trust for the beneficiaries mentioned in subsection (2) ; or - (ii) agent or nominee of another person; - (a) the beneficiary of the trust is a minor, and— (i) if the business property is used to carry on a 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; and - (i) if the business property is used to carry on a 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; and - (b) 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 (a) . - (i) if the business property is used to carry on a 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; and