Clean Energy (Consequential Amendments) Act 2011 (132 of 2011)

Schedule 2   Taxation amendments

Part 2   Amendments commencing at the same time as section 3 of the Clean Energy Act 2011 commences

Income Tax Assessment Act 1997

24   Subsection 126-50(2)

Omit all the words after "not", substitute:

be:

(a) *trading stock of the recipient company just after the time of the trigger event; or

(b) a*registered emissions unit*held by the recipient company just after the time of the trigger event.