S 139DR repealed by No 133 of 2009, s 3 and Sch 1 item 18, applicable in relation to the ESS interests mentioned in subsections
83A-5(1)
and
(2)
of the
Income Tax (Transitional Provisions) Act 1997
. S 139DR formerly read:
SECTION 139DR CONDITIONS FOR THE CONTINUATION OF SHARES OR RIGHTS
139DR(1)
The first condition is that, immediately before the takeover or restructure, the taxpayer held shares or rights in the old company under an employee share scheme.
139DR(2)
The second condition is that, if the taxpayer has not made an election under section
139E
covering the share or right, the taxpayer is, at or about the time the taxpayer acquires the matching shares or rights, an employee of:
(a)
the new company; or
(b)
a holding company of the new company; or
(c)
a subsidiary of the new company or of a holding company of the new company.
History
S 139DR(2) amended by No 147 of 2005.
139DR(3)
The third condition is that:
(a)
to the extent that the matching shares or rights are shares, they are ordinary shares; or
(b)
to the extent that the matching shares or rights are rights, they are rights to acquire ordinary shares.
139DR(4)
(Repealed by No 147 of 2005)
139DR(5)
The fourth condition is that, at the time the taxpayer acquires the matching shares or rights, the taxpayer does not hold a legal or beneficial interest in more than 5% of the shares of the new company.
History
S 139DR(5) amended by No 147 of 2005.
139DR(6)
The fifth condition is that, at that time, the taxpayer is not in a position to cast, or control the casting of, more than 5% of the maximum number of votes that may be cast at a general meeting of the new company.
History
S 139DR(6) amended by No 147 of 2005.
S 139DR inserted by No 41 of 2005. No 41 of 2005, s 3 and Sch 3 item 22, contains the following application provision:
22 Application
(1)
The amendment is taken to have applied, to acquisitions of shares or rights on or after 1 July 2004.
(2)
In this item:
acquisition
, of a share or right, has the same meaning as in Division
13A
of Part
III
of the
Income Tax Assessment Act 1936
.
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