Tax Laws Amendment (2007 Measures No. 1) Act 2007 (56 of 2007)

Schedule 3   Employee share schemes and stapled securities

Part 2   Consequential amendments

Income Tax Assessment Act 1997

35   Subsection 995-1(1) (definition of employee share scheme )

Repeal the definition, substitute:

employee share scheme : a *share or right, including a right to *acquire a stapled security that is treated because of Subdivision DB of Division 13A of Part III of the Income Tax Assessment Act 1936 as a qualifying right for the purposes of that Division, is acquired under an employee share scheme if it is acquired (within the meaning of section 139G of that Act) in the way described in section 139C of that Act.