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Declaration

Duties Form 60: Application for Registration as a Declared Public Unit Trust Scheme
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A 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 of over $1000 and double the amount of any duty payable as a result of the disqualifying circumstance (less any amount of 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 a declared public 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 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 60: Application for Registration as a Declared Public Unit Trust Scheme
Fields marked with * are required

Applicant details

Is the trustee an:
Individual
Company
Postal address of trustee of the unit trust scheme

Australian address

What is the type of address?

International address

Is this form being completed by a representative?
Representative details
Address

Australian address

What is the type of address?

International address

Declared public unit trust scheme

Duties Form 60: Application for Registration as a Declared Public Unit Trust Scheme
Fields marked with * are required
Declared public unit trust schemeA private unit trust scheme may be registered as a declared public unit trust scheme if:(a) The Commissioner is satisfied that the scheme should be registered as a declared public 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 that would otherwise be chargeable under Part 2 of Chapter 3 of the Act.
The matters the Commissioner will consider when making a determination as to whether a scheme should be registered as a declared public unit trust scheme include (but are not limited to):(a) Whether the scheme was established for a particular investor or group of investors;
(b) Whether units in the scheme were issued to the public/an appreciable section of the public;
(c) The degree of ownership and/or control a particular investor or group of investors has/have over the scheme;
(d) The total number of unit holders in the scheme and whether units are widely held by persons who are not associated with each other; and
(e) Whether the purpose and nature of the scheme is effectively public.
RegistrationRegistration as a declared public unit trust scheme is for a duration of 3 years from the date specified by the Commissioner. Registration may be backdated to a period before the day on which registration is granted.
Public unit trust schemeA public unit trust scheme is any of the following unit trust schemes – a listed trust, a widely held trust and a registered declared public unit trust scheme – but does not include a unit trust scheme that is, or was at any time, a wholesale unit trust scheme, an imminent wholesale unit trust scheme, a declared wholesale unit trust scheme or eligible for registration as such.A listed trust is a unit trust scheme all the units of which are listed for quotation on the Australian Stock Exchange, or an equivalent exchange.A listed trust means-(a) a unit trust scheme all the units in which are quoted on the ASX or an equivalent exchange; or
(b) a unit trust scheme, all the units in which are quoted on the NZX; or
(c) a unit trust scheme all the units in which are quoted on any exchange of the World Federation of Exchanges (other than the ASX or an equivalent exchange).A widely held trust is a unit trust scheme:(a) That has not less than 300 registered unit holders; and
(b) In which none of the registered unit holders, either individually or together with associated persons, holds or is entitled to more than 20 per cent of the units in the scheme.
Wholesale unit trust scheme, imminent wholesale unit trust scheme and declared wholesale unit trust schemeA wholesale unit trust scheme is a private unit trust scheme that may be registered as a wholesale unit trust scheme if it meets the following criteria:(a) It was not established for a particular investor; and
(b) Either:
i Its assets include an interest in not less than 3 parcels of land (whether in or outside Victoria), and at least 2 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. An imminent wholesale unit trust scheme is a private unit trust scheme that may be registered as an imminent wholesale unit trust scheme because:(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.A declared wholesale unit trust scheme is a private unit trust scheme that may be registered as a declared wholesale unit trust scheme if it meets the following criteria:(a) The Commissioner determines 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 that would otherwise be chargeable under Part 2 of Chapter 3 of the Act.
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.
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.

Declared public unit trust scheme

If insufficient space, please attach a schedule

Description of land holdings

Duties Form 60: Application for Registration as a Declared Public 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

Identity of major unit holders

Duties Form 60: Application for Registration as a Declared Public Unit Trust Scheme
Fields marked with * are required

Identity of major unit holders

Please provide the following details in respect of all major unit holders in the unit trust scheme (unit holders with interests of 10% or more).

Major unit holder

Address of unit holder

Australian address

What is the type of address?

International address

If insufficient space, please attach a schedule

Document checklist

Duties Form 60: Application for Registration as a Declared Public Unit Trust Scheme
Fields marked with * are required

Document checklist

Please check the documents and information you are providing 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.