Income Tax Assessment Act 1997
View history note
Hide history noteThe *shares issued in the interposed company must not be *redeemable shares.
615-25(2)
Each exchanging member who is issued *shares in the interposed company must own the shares from the time they are issued until at least the completion time.
615-25(3)
Immediately after the completion time:
(a) the exchanging members must own all the *shares in the interposed company; or
(b) entities other than those members must own no more than 5 shares in the interposed company, and the *market value of those shares expressed as a percentage of the market value of all the shares in the interposed company must be such that it is reasonable to treat the exchanging members as owning all the shares.
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