This event covered the practical application of the Ruling as outlined in the Practice Statement such as:
- providing guidance for distinguishing between "Section two loans"? from "Section three loans"?
- is it necessary to have a sub-trust in place for each UPE (and any requirements for a sub-trust)?
- consequences where a "Section two loan"? or "Section three loan"? arises
- if a UPE is deemed to be a Division 7A loan, when will it be deemed a loan?
- self corrective options applicable until 31 December 2011.