What is a legal entity?
A. Under the Financial Claims Scheme a legal entity can be one of the following: • Individual (includes sole traders) • Company • Trust including a superannuation fund • Partnership • Incorporated association • Unincorporated association • Registered Co-operative • Government Entity and any other entity as defined in s 960.100 of the Income Tax Assessment Act 1997. B. Under the Guarantee Scheme for Large Deposits and Wholesale Funding, Treasury’s statement in the Design and Operational Parameters release represents that the same classification of legal entity applies.
