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Tuesday, 3 July 1906
Page: 957

Mr ISAACS (Indi) (Attorney-General) . - I appreciate the honorable member's point ; but the word " trust " is used in the clause in two senses. The "commercial trust " means a body of persons, whereas the "trust" referred to in paragraph a is the legal relation in which these persons stand to one another, and " the creation of a trust " means the creation of an equitable relation between them.

Mr Johnson - Would not the word "existence" be better than the word " creation " ?

Mr ISAACS - I have used words which are to be found in certain decisions, and think it better to keep to them. The word " trust " in paragraph a means the confidence or equitable relation existing between the body of persons making up the commercial trust, and trustees are mentioned in the following line. It is by the creation of this equitable relation that the control arises.

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