Ministerial Determination Trustee Company Transfer of Estate Assets and Liabilities Ch 5D Corporations Act 2001
1Ministerial Determination Trustee Company Transfer of Estate Assets and Liabilities Ch 5D Corporations Act 2001
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6 August 2012
Mr Greg Medcraft
Chairman Australian Securities and Investments Commission GPO Box 9827 SYDNEY NSW 2001
Dear Mr Medcraft
I write in reference to trustee companies and their voluntary transfer of estate assets and liabilities under Chapter 5D of the Corporations Act 2001.
I note that for ASIC to make a transfer determination for the transfer of trustee company estate assets and liabilities, Ministerial consent is required for the transfer, unless it has determined that consent is not required.
Accordingly, I have decided that my consent is not required for all voluntary transfers of estate assets and liabilities between companies within the same corporate group (an intra-group transfer) and voluntary transfers between unrelated companies (an arm’s length transfer).
Yours sincerely
BILL SHORTEN