9Purchase or ownership of land or dwelling

##### 9 Purchase or ownership of land or dwelling (1) A reference in this Act to purchase, or to ownership, in relation to land or an undivided share in land, shall be read as a reference to purchase or ownership, as the case may be, otherwise than as trustee, of an approved interest in the land or in the undivided share, as the case may be. (2) A reference in this Act to purchase, or to ownership, in relation to a dwelling, shall be read as a reference to purchase or ownership, as the case may be, otherwise than as trustee, of: (a) whether or not the dwelling is a dwelling of a kind referred to in paragraph (b)—the land on which the dwelling is, or is to be, erected; or (b) where the dwelling is, or is to be, a part of a building or is, or is to be, one of 2 or more dwellings separately erected on a single parcel of land: (i) an approved interest in the dwelling in pursuance of a law of a State or internal Territory that enables the holding or enjoyment by different persons of proprietary rights in respect of different parts of that building or of different buildings erected on that parcel of land, as the case may be; (ii) shares in the capital of a body corporate that is the owner of the land on which the dwelling is, or is to be, erected, being shares that entitle the holder to a right of occupancy (whether under a lease or otherwise) in respect of the dwelling, where the Secretary is satisfied, having regard to such matters as the Secretary considers relevant, that the value of the holder’s interest in the shares is not less than the value of the holder’s interest in the dwelling; or (iii) an undivided share in the land on which the dwelling is, or is to be, erected.