Income Tax Assessment Act 1997
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Hide history noteSECTION 727-640 727-640 Merging equity or loan interests
If 2 or more * equity or loan interests (the original interests ) in the * losing entity or in the * gaining entity are merged into 1 or more * equity or loan interests (the new interests ) at or after the * IVS time:
(a) each of the new interests inherits whatever characteristics would have been relevant to applying this Subdivision to the original interests if the merging had not happened; and
(b) those characteristics include characteristics inherited by any of the original interests because of any other application or applications of this section or section 727-635 ; and
(c) if a characteristic of any of the original interests involves an amount or quantity, the amount or quantity for that characteristic as inherited by any of the new interests is a reasonable proportion of the amount or quantity for that characteristic of the original interest.
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