Part 3-3 inserted by No 46 of 1998.

Div 124 inserted by No 46 of 1998.

Div 124 inserted by No 165 of 1999.

S 124-795(1) amended by No 168 of 2006 , s 3 and Sch 4 items 59 and 60, by substituting " the replacement interest is *taxable Australian property " for " the replacement entity is an Australian resident or a *resident trust for CGT purposes " and repealing the note, applicable to CGT events that happen on or after 12 December 2006. The note formerly read:

Note: If you are a foreign resident and the replacement entity is an Australian resident, the replacement interest has the necessary connection with Australia: see Division 136 .

S 124-795(1) amended by No 41 of 2005 and No 89 of 2000.

S 124-795(2) amended by No 117 of 2002.

S 124-795(3) amended by No 133 of 2014, s 3 and Sch 1 items 11 and 12, by substituting " 615 " for " Subdivision 124-G " and " Division 615 deals with business restructures " for " Subdivision 124-G deals with company reorganisation " , applicable in relation to shares or units disposed of, redeemed or cancelled at or after 7.30 pm, by legal time in the Australian Capital Territory, on 10 May 2011.

S 124-795(3) substituted by No 89 of 2000.

S 124-795(4) inserted by No 14 of 2009, s 3 and Sch 1 item 3, effective 26 March 2009. For application provision, see note under s 112-53 .

Former s 124-795(4) repealed by No 168 of 2006 , s 3 and Sch 4 item 61, applicable to CGT events that happen on or after 12 December 2006. S 124-795(4) formerly read:

124-795(4)
Unless a condition in subsection (5) is satisfied, you cannot obtain the roll-over for an original interest in an original entity that is a company if:

(a) just before the *arrangement started, the original entity:

(i) was a foreign resident; and

(ii) did not have at least 300 *members; and

(b) just after the arrangement was completed:

(i) if the acquiring entity is not a member of a *wholly-owned group at that time - the acquiring entity was a foreign resident and *acquired an interest of the kind referred to in paragraph 124-780(1)(a) in the original entity as a result of the arrangement; or

(ii) if it was a member of such a group at that time - a member of that group was a foreign resident and acquired an interest of the kind referred to in paragraph 124-780(1)(a) in the original entity as a result of the arrangement.

Note:

There are some cases where a company will not be regarded as having 300 members: see section 124-810 .

Former s 124-795(4) amended by No 41 of 2005 and inserted by No 89 of 2000.

S 124-795(5) repealed by No 168 of 2006 , s 3 and Sch 4 item 61, applicable to CGT events that happen on or after 12 December 2006. S 124-795(5) formerly read:

124-795(5)
You can obtain the roll-over for the original interest if:

(a) if the acquiring entity was not a member of a *wholly-owned group just after the *arrangement was completed - the acquiring entity had at least 300 *members just before the arrangement started; or

(b) if it was a member of such a group just after the arrangement was completed:

(i) the *ultimate holding company of the group had at least 300 members just before the arrangement started; and

(ii) the ultimate holding company was a foreign resident just after the arrangement was completed.

S 124-795(5) amended by No 41 of 2005 and inserted by No 89 of 2000.

S 124-795 inserted by No 165 of 1999.