INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART IIIA
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CAPITAL GAINS AND CAPITAL LOSSES
Division 20
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Changes in majority underlying interests in assets
Subdivision A
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Preliminary
SECTION 160ZZRRB
POSITION TO AFFECT RIGHTS IN RELATION TO A COMPANY
160ZZRRB(1)
[Right, power or option]
(a) to acquire those rights from one or other of those companies; or
(b) to do something that would prevent one or other of those companies from exercising its rights for its own benefit, or from receiving any benefit arising from having those rights. 160ZZRRB(2) [Origin of right does not matter]
View history note
Hide history noteA person is in a position to affect rights of a company in relation to another company if the person has the right, power or option:
(a) to acquire those rights from one or other of those companies; or
(b) to do something that would prevent one or other of those companies from exercising its rights for its own benefit, or from receiving any benefit arising from having those rights. 160ZZRRB(2) [Origin of right does not matter]
It does not matter whether the person has the right, power or option because of the constituent document of one or other of those companies, any agreement or otherwise.
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