11AAccount information in relation to trust accounts

11A Account information in relation to trust accounts

(1) For the purposes of subparagraph (c)(v) of the definition of account information in subsection 3(1) of the Act, the following information in relation to an account held in trust is prescribed: (a) the name and address of the trustee; and (b) the name of each beneficiary under the trust; and (c) if the terms of the trust identify the beneficiaries by reference only to membership of a class—details of the class. (2) A cash dealer who provides account information on an account held in trust is not required to provide the information set out in subregulation (1) if the account is: (a) held by, or operated in connection with, a superannuation fund; or (b) held by: (i) the Commonwealth, a State, the Australian Capital Territory, the Northern Territory or the Territory of Norfolk Island; or (ii) a public authority; or (iii) a local government body.