85BTreatment of trusts

85B Treatment of trusts

(1) This Act and the rules apply to a trust as if it were a person, but with the changes set out in this section. Trusts with a single trustee (2) If the trust has a single trustee: (a) an obligation that would otherwise be imposed on the trust by this Act or the rules is imposed on the trustee instead; and (b) if this Act or the rules would otherwise permit something to be done by the trust, the thing may be done by the trustee; and (c) an offence against this Act that would otherwise have been committed by the trust is taken to have been committed by the trustee; and (d) a civil penalty provision of this Act that would otherwise have been contravened by the trust is taken to have been contravened by the trustee. Trusts with multiple trustees (3) If the trust has 2 or more trustees: (a) an obligation that would otherwise be imposed on the trust by this Act or the rules is imposed on each trustee instead, but may be discharged by any of the trustees; and (b) if this Act or the rules would otherwise permit something to be done by the trust, the thing may be done by one or more of the trustees on behalf of the trust; and (c) an offence against this Act that would otherwise have been committed by the trust is taken to have been committed by each trustee of the trust, at the time the offence was committed, who: (i) did the relevant act or made the relevant omission; or (ii) aided, abetted, counselled or procured the relevant act or omission; or (iii) was in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly and whether by any act or omission of the trustee); and (d) a civil penalty provision of this Act that would otherwise have been contravened by the trust is taken to have been contravened by each trustee of the trust, at the time the provision was contravened, who: (i) did the relevant act or made the relevant omission; or (ii) aided, abetted, counselled or procured the relevant act or omission; or (iii) was in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly and whether by any act or omission of the trustee).