CHAPTER 3
-
SPECIALIST LIABILITY RULES
PART 3-80
-
ROLL-OVERS APPLYING TO ASSETS GENERALLY
History
Pt 3-80 inserted by No 12 of 2012.
Division 615
-
Roll-overs for business restructures
History
Div 615 inserted by No 133 of 2014, s 3 and Sch 1 item 1, applicable in relation to shares or units disposed of, redeemed or cancelled at or after 7.30 pm, by legal time in the Australian Capital Territory, on 10 May 2011.
Subdivision 615-B
-
Further requirements for choosing to obtain roll-overs
History
Subdiv 615-B inserted by No 133 of 2014, s 3 and Sch 1 item 1, applicable in relation to shares or units disposed of, redeemed or cancelled at or after 7.30 pm, by legal time in the Australian Capital Territory, on 10 May 2011.
SECTION 615-25
Requirements relating to the interposed company
615-25(1)
The *shares issued in the interposed company must not be *redeemable shares.
615-25(2)
Each exchanging member who is issued *shares in the interposed company must own the shares from the time they are issued until at least the completion time.
615-25(3)
Immediately after the completion time:
(a)
the exchanging members must own all the *shares in the interposed company; or
(b)
entities other than those members must own no more than 5 shares in the interposed company, and the *market value of those shares expressed as a percentage of the market value of all the shares in the interposed company must be such that it is reasonable to treat the exchanging members as owning all the shares.
History
S 615-25 inserted by No 133 of 2014, s 3 and Sch 1 item 1, applicable in relation to shares or units disposed of, redeemed or cancelled at or after 7.30 pm, by legal time in the Australian Capital Territory, on 10 May 2011.