Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-80 - ROLL-OVERS APPLYING TO ASSETS GENERALLY  

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History

Pt 3-80 inserted by No 12 of 2012.

Division 615 - Roll-overs for business restructures  

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Div 615 inserted by No 133 of 2014, s 3 and Sch 1 item 1, 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.

Subdivision 615-B - Further requirements for choosing to obtain roll-overs  

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Subdiv 615-B inserted by No 133 of 2014, s 3 and Sch 1 item 1, 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.

SECTION 615-35  

615-35   ADI restructures - disregard certain preference shares  

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For the purposes of this Division, disregard any *shares in the original entity that can be disregarded under subsection 703-37(4) if:

(a) the interposed company is a non-operating holding company within the meaning of the Financial Sector (Transfer and Restructure) Act 1999 ; and

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(b) a restructure instrument under Part 4A of that Act is in force in relation to the interposed company; and

(c) because of the restructure to which the instrument relates, an *ADI becomes a subsidiary (within the meaning of that Act) of the interposed company; and

(d) the original entity is:

(i) the ADI; or

(ii) part of an extended licensed entity (within the meaning of the *prudential standards) that includes the ADI.

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S 615-35 amended by No 10 of 2018, s 3 and Sch 7 item 9, by substituting " Financial Sector (Transfer and Restructure) Act 1999 " for " Financial Sector (Business Transfer and Group Restructure) Act 1999 " in para (a), effective 5 March 2018.

S 615-35 inserted by No 133 of 2014, s 3 and Sch 1 item 1, 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.

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