Urban Land Corporation/Trusts

A corporation or trust is deemed to be an urban land corporation or trust if it holds more than 50 per cent of its assets in urban land (vacant or developed). An acquisition of an interest in an urban land corporation or trust requires approval whether the interest is deemed to be substantial or not. Applications for approval will be considered on a case by case basis based on the nature of the real estate interests being acquired under both the Urban Land Policy Guidelines and the policy regarding an Acquisition of Shares in an Australian business.