Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An entity satisfies the succession test in relation to resale royalty right on the commercial resale of an artistic work, if the entity satisfies:
(a) criteria 1 and 2 (in subsections (2) and (3)); or
(b) criteria 3 and 4 (in subsections (4) and (5)).
Criterion 1
(2) The entity received its interest in the right by testamentary disposition, or in accordance with the rules of intestate succession, on the death of an individual.
Criterion 2
(3) The entity is one of the following:
(a) an individual with a beneficial interest in the right;
(b) a charity or charitable institution with a beneficial interest in the right;
(c) a community body with a beneficial interest in the right;
(d) a person who holds an interest in the right in trust for:
(i) an individual; or
(ii) a charity or charitable institution; or
(iii) a community body.
Criterion 3
(4) The entity received its interest in the right on the winding up of a charity, charitable institution or a community body.
Criterion 4
(5) The entity is a charity, charitable institution or a community body formed for substantially the same purposes as the body that was wound up.