New Business Tax System (Consolidation) Act (No. 1) 2002 (68 of 2002)

Schedule 3 Consequential amendments relating to main consolidation provisions

Repeal the table, substitute:

Additional requirements
Item	At the time of the trigger event the originating company must be:	At the time of the trigger event the recipient company must be:	The roll-over asset must have the necessary connection with Australia:
1	Either: (a) a foreign resident; or (b) an Australian resident but not a *prescribed dual resident	A foreign resident	Either: (a) just before and just after the trigger event, for a disposal case; or (b) just after that event, for a creation case
2	A foreign resident	An Australian resident but not a *prescribed dual resident	Either: (a) just before the trigger event, for a disposal case; or (b) just after that event, for a creation case

Additional requirements

Item

At the time of the trigger event the originating company must be:

At the time of the trigger event the recipient company must be:

The roll-over asset must have the necessary connection with Australia:

Either:

(a) a foreign resident; or

(b) an Australian resident but not a *prescribed dual resident

A foreign resident

Either:

(a) just before and just after the trigger event, for a disposal case; or

(b) just after that event, for a creation case

A foreign resident

An Australian resident but not a *prescribed dual resident

Either:

(a) just before the trigger event, for a disposal case; or

(b) just after that event, for a creation case