Part 3-3 inserted by No 46 of 1998.

Div 124 inserted by No 46 of 1998.

Subdiv 124-Q inserted by No 164 of 2007 , s 3 and Sch 8 item 6, applicable to CGT events happening on or after 1 July 2006.

S 124-1065 repealed by No 12 of 2012, s 3 and Sch 2 item 8, applicable to CGT events happening after 7.30 pm (by legal time in the Australian Capital Territory) on 11 May 2010. S 124-1065 formerly read:

SECTION 124-1065 Certain foreign holders disregarded  
124-1065(1)
This section has effect if:

(a) *ownership interests are owned by a foreign holder within the meaning of the Corporations Act 2001 ; and

(b) an agent or nominee is appointed by (or on behalf of) the foreign holder; and

(c) the interests are *disposed of to the interposed trust, or are cancelled; and

(d) as a result, the agent or nominee acquires new units or new options, rights or similar interests, or both, in the interposed trust; and

(e) the agent or nominee disposes of those ownership interests in the interposed trust (whether separately or together with other ownership interests covered by paragraph (d)); and

(f) the agent or nominee:

(i) gives the foreign holder an amount equivalent to the *capital proceeds of the disposal (less expenses); or

(ii) if the ownership interests are disposed of together with other ownership interests covered by paragraph (d) - gives the foreign holder an amount equivalent to the foreign holder ' s proportion of the capital proceeds of the disposal (less expenses).

124-1065(2)
This Subdivision has effect as if the foreign holder were not an exchanging member.

S 124-1065 inserted by No 164 of 2007 , s 3 and Sch 8 item 6, applicable to CGT events happening on or after 1 July 2006.