Tax Laws Amendment (2009 Measures No. 4) Act 2009 (88 of 2009)

Schedule 3   Demutualisation of friendly society health or life insurers

Part 2   Related amendments

Income Tax Assessment Act 1997

18   Paragraphs 149-165(1)(b) and 149-170(1)(b)

Repeal the paragraphs, substitute:

(b) has since stopped being a company of either of those kinds, but either:

(i) has continued in existence as a company covered by paragraph 149-50(1)(a) or (e) or a*publicly traded unit trust; or

(ii) has undergone a demutualisation in relation to which Division 316 (Demutualisation of friendly society health or life insurers) applied and has continued in existence as a company; and