INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 3B - Tests for finding out whether the company has maintained the same owners  

Rules affecting the operation of the tests  

SECTION 160ZNO  

160ZNO   SHARES TREATED AS ALWAYS HAVING CARRIED RIGHTS  
For the purposes of a test, shares are taken to have carried particular rights at all times during the year of income if the Commissioner is satisfied that:

(a) the shares started to carry those rights after the year of income; or

(b) the shares will or may start to carry those rights after the year of income;

because of:

(c) the company's constitution as in force at some time during the year of income; or

(d) an arrangement entered into before or during the year of income.