If the assets of a trust includes shares in a company, can that company be appointed as trustee of that trust?
It's not clear to me how section 259A of the Corporations Law works in this situation.
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Sign up to join this communityIf the assets of a trust includes shares in a company, can that company be appointed as trustee of that trust?
It's not clear to me how section 259A of the Corporations Law works in this situation.
The trustee is the legal owner of all assets of the trust. Under 259A a company cannot own its own shares. Therefore, a company cannot be trustee of a trust that holds its shares. Quod erat demonstrandum