Treasury Laws Amendment (2019 Measures No. 3) Act 2020 (64 of 2020)

Schedule 3   Miscellaneous amendments

Part 3   Amendments relating to instruments

Division 2   Application and transitional provisions

326   Transitional - other instruments

(1) An approval under section 14 of the Financial Sector (Shareholdings) Act 1998 and in force immediately before the commencement of this Part continues in force (and may be dealt with) as if it were an approval under that section as amended by this Part.

(2) A notice given under section 130 of the Income Tax Assessment Act 1936 to a particular person and in force immediately before the commencement of this Part continues in force (and may be dealt with) as if it were a notice under subsection 130(2) of that Act as amended by this Part.

(3) A declaration made under the definition of unit trust in section 202A of the Income Tax Assessment Act 1936 and in force immediately before the commencement of this Part continues in force (and may be dealt with) as if it were a declaration under section 202AB of that Act as inserted by this Part.

(4) A decision made under subsection 820-960(4) of the Income Tax Assessment Act 1997 and in force immediately before the commencement of this Part continues in force (and may be dealt with) as if it were:

(a) for a decision that applies to a particular entity - an exemption under subsection 820-962(3) of that Act as inserted by this Part; or

(b) otherwise - an exemption under subsection 820-962(1) of that Act as inserted by this Part.

(5) A variation made under section 15-15 in Schedule 1 to the Taxation Administration Act 1953 and in force immediately before the commencement of this Part continues in force (and may be dealt with) as if it were:

(a) for a variation made by written notice to a particular entity - a variation made by notice under paragraph 15-15(3)(a) in that Schedule as substituted by this Part; or

(b) otherwise - a variation made by legislative instrument under paragraph 15-15(3)(b) in that Schedule as substituted by this Part.

(6) A variation made under subsection 16-153(6) in Schedule 1 to the Taxation Administration Act 1953 and in force immediately before the commencement of this Part continues in force (and may be dealt with) as if it were:

(a) for a variation made by written notice to a particular entity - a variation made by notice under paragraph 16-153(7)(a) in that Schedule as substituted by this Part; or

(b) otherwise - a variation made by legislative instrument under paragraph 16-153(7)(b) in that Schedule as substituted by this Part.

(7) An exemption made under section 16-180 in Schedule 1 to the Taxation Administration Act 1953 and in force immediately before the commencement of this Part continues in force (and may be dealt with) as if it were:

(a) for an exemption made by written notice to a particular entity - an exemption made by notice under paragraph 16-180(2)(a) in that Schedule as substituted by this Part; or

(b) otherwise - an exemption made by legislative instrument under paragraph 16-180(2)(b) in that Schedule as substituted by this Part.

(8) Item 325 does not apply to a direction given under subsection 64(1) of the Business Names Registration Act 2011.

Note: For a transitional provision for directions given under subsection 64(1) of the Business Names Registration Act 2011, see item 163 of this Schedule.