Corporations Act 2001
View history note
Hide history noteA person with a proper interest , in relation to an estate, includes (but is not limited to) the following:
(a) ASIC;
(b) in relation to a charitable trust:
(i) the settlor, or one of the settlors, of the trust; or
(ii) a person who, under the terms of the trust, has power to appoint or remove a trustee of the trust or to vary (or cause to be varied) any of the terms of the trust; or
(iii) a Minister of a State or Territory who has responsibilities relating to charitable trusts; or
(iv) a person who is named in the instrument establishing the trust as a person who may receive payments on behalf of the trust; or
(v) a person who is named in the instrument establishing the trust as a person who must, or may, be consulted by the trustee or trustees before distributing or applying money or other property for the purposes of the trust; or
(vi) a person of a class that the trust is intended to benefit;
(c) in the case of the estate of a deceased person:
(i) if the person died testate - a beneficiary under the person's will; or
(ii) if the person died intestate - a person who, under a law of a State or Territory, has, or is entitled to, an interest in the deceased's estate;
(d) in the case of any other trust:
(i) the settlor, or one of the settlors, of the trust; or
(ii) a person who, under the terms of the trust, has power to appoint or remove a trustee of the trust or to vary (or cause to be varied) any of the terms of the trust; or
(iii) a beneficiary of the trust;
(e) in relation to an application to a court relating to the estate - a person that the court considers, in the circumstances of the case, has a proper interest in the estate;
(f) a person prescribed by the regulations as having a proper interest in the estate;
(g) if a person covered by any of the above paragraphs is under a legal disability - an agent of the person. 601RAD(2) [ Paramountcy of each paragraph or subparagraph]
None of the paragraphs or subparagraphs of subsection (1) limits, or is limited by, any of the other paragraphs or subparagraphs of that subsection.
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