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Declaration

Duties Form 59: Application for Registration of a Wholesale Unit Trust Scheme, Imminent Wholesale Unit Trust Scheme or Declared Wholesale Unit Trust Scheme
Fields marked with * are required
Disqualifying circumstanceA disqualifying circumstance is any circumstance that causes a registered unit trust scheme to fail to meet one or more of the registration criteria. If a disqualifying circumstance occurs, the trustee must notify the Commissioner of the details of the disqualifying circumstance within 28 days of its occurrence. If the trustee fails to notify the Commissioner within 28 days, the trustee may be liable for penalties, and double the amount of any duty payable as a result of the disqualifying circumstance (less any amount of any duty that the trustee or any other person has paid).

Collection statement

This information is collected by the SRO to establish whether a private unit trust scheme is eligible to be registered as either a wholesale unit trust scheme, an imminent wholesale unit trust scheme or a declared wholesale unit trust scheme for the purposes of the landholder provisions in Part 2 of Chapter 3 of the Duties Act 2000. If you do not provide the information required, we will not be able to process your application for registration. The information collected may be used for the purposes of other SRO legislation. Where authorised by law to do so, we may also disclose this information to other Victorian government agencies, State and Territory revenue offices and law enforcement agencies. You can find out more about how we use and protect your information in our Privacy Policy, available at www.sro.vic.gov.au.

Declaration

Undertaking

Applicant details

Duties Form 59: Application for Registration of a Wholesale Unit Trust Scheme, Imminent Wholesale Unit Trust Scheme or Declared Wholesale Unit Trust Scheme
Fields marked with * are required

Applicant details

Is the trustee an individual or a company?
Individual
Entity
Postal address of trustee of the unit trust scheme

Australian address

What is the type of address?

International address

Is the form filled by a representative?
Representative details
Address

Australian address

What is the type of address?

International address

Eligibility

Duties Form 59: Application for Registration of a Wholesale Unit Trust Scheme, Imminent Wholesale Unit Trust Scheme or Declared Wholesale Unit Trust Scheme
Fields marked with * are required
Wholesale unit trust schemeA private unit trust scheme may be registered as a wholesale unit trust scheme if it meets the following registration criteria: (a) It was not established for a particular investor; and
(b) Either: i. Its assets include an interest in not less than three parcels of land (whether in or outside Victoria), and at least two of those interests each have an unencumbered value of $10 million or more; or
ii. At least six unit holders, who are not associated persons, each have a subscription under the trust of not less than $3 million; and(c) Not less than 70 per cent of the units in the scheme are held by qualified investors; and
(d) No qualified investor, either alone or together with associated persons, holds 50 per cent or more of the units in the scheme, and
(e) Registration is not being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of, avoiding or reducing duty that would otherwise be chargeable under Part 2 of Chapter 3 of the Act.
Imminent wholesale unit trust schemeIf a private unit trust scheme cannot immediately meet the requirements for registration as a wholesale unit trust scheme, it may be registered as an imminent wholesale unit trust scheme if:(a) It will meet the criteria for registration as a wholesale unit trust scheme within 12 months after the day on which the first units in the scheme were issued to a qualified investor; and
(b) Units issued in the scheme, before it meets the criteria for registration as a wholesale unit trust scheme, have been or will be issued only for the purpose of the scheme meeting the criteria; and
(c) Registration is not being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of, avoiding or reducing duty that would otherwise be chargeable under Part 2 of Chapter 3 of the Act.
Declared wholesale unit trust schemeA private unit trust scheme may be registered as a declared wholesale unit trust scheme if;(a) The Commissioner is satisfied that the scheme should be registered as a declared wholesale unit trust scheme; and
(b) Registration is not being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of, avoiding or reducing duty otherwise chargeable under Part 2 of Chapter 3 of the Act.
RegistrationRegistration as a wholesale unit trust scheme or declared wholesale unit trust scheme is for a period of three years. For an imminent wholesale unit trust scheme, registration is for a period of 12 months from the date units in the scheme were first issued to a qualified investor. Registration may be backdated to a period before the day on which registration is granted.
Associated personAn associated person is a person who is associated with another person on the basis of the relationships set out in section 3(1) of the Act.
Parcels of landFor the purposes of section 89S of the Act, the Commissioner may treat two or more parcels of land as a single parcel of land if he or she is satisfied that it is appropriate to do so, having regard to the ownership, the proximity and use of the parcels of land and any other matter the Commissioner considers to be relevant.
Qualified investorA qualified investor in a unit trust scheme is a person who holds units in the unit trust scheme in any of the capacities listed in section 89P of the Act.

Eligibility

Please choose the type of application
Wholesale Unit Trust Scheme
Was the unit trust scheme established for a particular investor?
Do at least two of those interests each have an unencumbered value of $10 million or more?
Is registration being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of, avoiding or reducing duty otherwise chargeable under the Act?
Imminent Wholesale Unit Trust Scheme
Was/is the unit trust scheme established for a particular investor?
Within 12 months of the date stated:
Will the trustee as trustee of the unit trust scheme, hold directly or indirectly an interest in not less than three parcels of land (whether in or outside Victoria), and will at least two of those interests each have an unencumbered value of $10 million or more?
Will at least six of the unit holders in the unit trust scheme who are not associated persons each have a subscription under the scheme of at least $3 million?
Will at least 70 per cent of the units in the unit trust scheme be held by qualified investors?
Will a qualified investor, either alone or together with any associated person(s), hold 50 per cent or more of the units in the unit trust scheme?
If units in the unit trust scheme were/will be issued prior to the scheme satisfying the criteria for registration as a wholesale unit trust scheme, were/will they (be) issued only for the purpose of meeting the criteria?
Is registration being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of, avoiding or reducing duty otherwise payable under the Act?
Declared Wholesale Unit Trust Scheme
if insufficient space please attach a schedule
Is registration being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of avoiding or reducing duty otherwise payable under the Act?

Description of land holdings

Duties Form 59: Application for Registration of a Wholesale Unit Trust Scheme, Imminent Wholesale Unit Trust Scheme or Declared Wholesale Unit Trust Scheme
Fields marked with * are required

Description of land holdings

Please provide the following details in respect of all of the unit trust scheme's land holdings, whether directly or indirectly held, and whether located in or outside of Victoria. If any of the land holdings are indirectly held, please identify the registered legal owner and the name of the underlying trust.
Victorian land holdings

Land holding

Property address
What is the type of address?
If insufficient space, please attach a schedule
Land held outside Victoria

Land holding

Property address
What is the type of address?
If insufficient space, please attach a schedule

Identify all qualified investors

Duties Form 59: Application for Registration of a Wholesale Unit Trust Scheme, Imminent Wholesale Unit Trust Scheme or Declared Wholesale Unit Trust Scheme
Fields marked with * are required

Identify all qualified investors

Please provide the following details in respect of all qualified investors in the unit trust scheme.

Qualified investor

Address of qualified investor

Australian address

What is the type of address?

International address

If insufficient space, please attach a schedule

Identity of major unit holders

Duties Form 59: Application for Registration of a Wholesale Unit Trust Scheme, Imminent Wholesale Unit Trust Scheme or Declared Wholesale Unit Trust Scheme
Fields marked with * are required

Identity of major unit holders

Please provide the following details in respect of all unit holders in the unit trust scheme (other than qualified investors) with holdings of 5 per cent or above.

Major unit holder

Address of qualified investor

Australian address

What is the type of address?

International address

If insufficient space, please attach a schedule

Document checklist

Duties Form 59: Application for Registration of a Wholesale Unit Trust Scheme, Imminent Wholesale Unit Trust Scheme or Declared Wholesale Unit Trust Scheme
Fields marked with * are required

Document checklist

The following documents and information must be provided with this application:

Supporting documents

Supporting document

Supporting document
File:
Please note the overall size of attachment uploads is restricted to 20 MB.If you are unable to attach your documentation within the prescribed limit, please send the remaining attachments to us at landholder@sro.vic.gov.au or Landholder Acquisitions Branch, State Revenue Office, GPO Box 1641, MELBOURNE, VIC 3001 quoting the tracking code mentioned on the top right of the online form.