11 Qualifying conditions on mirror trust option
Section 38 of the principal Act is amended by repealing subsections (1)
and (2), and substituting the following subsections:

    "(1)  A settling trust may use the mirror trust option if the settling
trust is a customer trust or community trust or both a customer and community
trust.

    "(2)  If the mirror trust option is used, the settling trust and the mirror
trust, and any companies in which either the settling trust or mirror trust is
involved, must comply with the rules in sections 24 and 25 (corporate
separation and arms length rules) and sections 40 and 41."