Introduction Overview Chapter 1: Definitions Section 1140: “Unauthorised unit trust”
3251.This section defines an “unauthorised unit trust”. It is based on section 832(1) of ICTA. The corresponding provision for income tax is in section 989 of ITA.
3252.Subsection (2) applies the effect of regulations made under section 1007 of ITA that exclude certain unit trust schemes from those that would otherwise meet the definition in subsection (1).