Tax Laws Amendment (2008 Measures No. 6) Act 2009 (14 of 2009)

Schedule 1   CGT roll-overs for corporate restructures

Income Tax Assessment Act 1997

6   Application

(1) The amendments made by this Schedule apply in relation to an arrangement that is or relates to a takeover bid (within the meaning of the Corporations Act 2001) if:

(a) for an off-market bid (within the meaning of that Act) - step 4 of the table in subsection 633(1) of that Act; or

(b) for a market bid (within the meaning of that Act) - step 2 of the table in subsection 635(1) of that Act;

is completed after 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 2008.

(2) The amendments made by this Schedule apply in relation to an arrangement if:

(a) a court orders, under subsection 411(1) of the Corporations Act 2001, a meeting or meetings of:

(i) a company's members; or

(ii) one or more classes of a company's members;

about the arrangement; and

(b) the application for the order was made after 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 2008.

(3) The amendments made by this Schedule apply in relation to an arrangement if:

(a) the arrangement is not, and does not relate to, a takeover bid (within the meaning of the Corporations Act 2001); and

(b) a court does not order, under subsection 411(1) of the Corporations Act 2001, a meeting or meetings of:

(i) a company's members; or

(ii) one or more classes of a company's members;

about the arrangement; and

(c) a decision to enter into the arrangement was not made before 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 2008.