Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 165 - Income tax consequences of changing ownership or control of a company  

Subdivision 165-D - Tests for finding out whether the company has maintained the same owners  

Rules affecting the operation of the tests

SECTION 165-190   Shares treated as always having carried rights  

165-190(1)    
In applying a test for the purposes of this Division other than Subdivision 165-CC , *shares are taken to have carried particular rights at all times during a part of the *ownership test period if the Commissioner is satisfied that:

(a) the shares started to carry those rights after the ownership test period; or

(b) the shares will or may start to carry those rights after the ownership test period;

because of:

(c) the company's *constitution as in force at some time during the ownership test period; or

(d) an *arrangement entered into before or during the ownership test period.

165-190(2)    
In applying a test for the purposes of Subdivision 165-CC , *shares are taken to have carried particular rights after a particular time if the Commissioner is satisfied that:

(a) the shares started to carry those rights after that time; or

(b) the shares will or may start to carry those rights after that time;

because of:

(c) the company's *constitution as in force at any time; or

(d) an *arrangement entered into at any time.