S 58R repealed by No 43 of 2019, s 3 and Sch 2 item 66, effective 1 July 2019. For application, transitional and savings provisions, see note under s
31AA
. S 58R formerly read:
SECTION 58R INTERESTS TAKEN TO BE TRANSFERRED TO LEAVING ENTITY ON LEAVING
58R(1)
If:
(a)
at a particular time, a person stops being taken, because of section
58P
, to be part of the head company or provisional head company; and
(b)
the entitlement comprising the person
'
s interest in an onshore petroleum project just after that time is all of the entitlement comprising the company
'
s interest in the project just before that time;
section
48
applies as if, at that time, the person
'
s interest in the project just after that time had been transferred from the company under a transaction of a kind referred to in subsection
48(1A)
, and as if the person had given the consideration referred to in paragraph
48(1A)(c)
.
History
S 58R(1) amended by No 88 of 2013, s 3 and Sch 7 items 125
-
126, by inserting
"
, at that time,
"
and
"
, and as if the person had given the consideration referred to in paragraph 48(1A)(c)
"
, effective 1 July 2012.
58R(2)
If:
(a)
at a particular time, a person stops being taken, because of section
58P
, to be part of the head company or provisional head company; and
(b)
the entitlement comprising the person
'
s interest in an onshore petroleum project just after that time is part, but not all, of the entitlement comprising the company
'
s interest in the project just before that time;
section
48A
applies as if, at that time, the person
'
s interest in the project just after that time had been transferred from the company under a transaction of a kind referred to in subsection
48A(1)
, and as if the person had given the consideration referred to in paragraph
48A(11)(b)
.
History
S 58R(2) amended by No 88 of 2013, s 3 and Sch 7 items 127
-
128, by inserting
"
, at that time,
"
and
"
, and as if the person had given the consideration referred to in paragraph 48A(11)(b)
"
, effective 1 July 2012.
S 58R inserted by No 18 of 2012, s 3 and Sch 5 item 1, effective 1 July 2012.
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