INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 3CB - Tests for finding out whether the listed public company has maintained the same owners  

The ownership tests  

SECTION 160ZNSJ  

160ZNSJ   WHO HAS RIGHTS TO MORE THAN 50% OF THE LISTED PUBLIC COMPANY'S CAPITAL DISTRIBUTIONS AT A PARTICULAR TIME  
If it is the case, or it is reasonable to assume, that there are persons (none of them companies) who, at the ownership test time, have between them the right to receive for their own benefit (whether directly, or indirectly through one or more interposed entities), more than 50% of any distribution of capital of the listed public company, those persons have rights to more than 50% of the listed public company's capital distributions at that time.