INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 20 - Changes in majority underlying interests in assets  

Subdivision A - Preliminary  

SECTION 160ZZRRB   POSITION TO AFFECT RIGHTS IN RELATION TO A COMPANY  

160ZZRRB(1)   [Right, power or option]  

A 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.