INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 17 - Miscellaneous roll-over relief  

SECTION 160ZZPC  

160ZZPC   COMPANY SCHEMES OF ARRANGEMENT - EXCHANGE OF SHARES IN ORIGINAL COMPANY FOR SHARES IN INTERPOSED COMPANY  
Section 160ZZPA applies to a scheme for the reorganisation of the affairs of a company (in this section called the ``original company'' ) that was entered into, or commenced to be carried out, after 28 January 1988 in a corresponding way to the way in which that section applies to a scheme for the reorganisation of the affairs of a unit trust and, for the purposes of that corresponding application:

(a) references in that section to the unit trust or to the trustee of the unit trust shall be read as references to the original company;

(b) references in that section to units in the unit trust shall be read as references to shares in the original company; and

(c) the requirements in paragraphs 160ZZPA(1)(g) and (h) shall be replaced by a requirement that both the original company and the interposed company are residents of Australia at the completion time and, if the disposals occurred at different times, at all times during the period commencing at the time of the first of the disposals and ending at the completion time.