Treasury Laws Amendment (2023 Measures No. 1) Act 2023 (101 of 2023)

Schedule 4   Off-market share buy-backs

Part 1   Off-market share buy-backs

Division 1   Main amendments

Income Tax Assessment Act 1997

9   Application of amendments

(1) The amendments made by this Division apply to a purchase by a listed public company if:

(a) both:

(i) the purchase is announced to the market at or before the time the purchase occurs; and

(ii) the purchase is first announced to the market after 7:30 pm, by legal time in the Australian Capital Territory, on 25 October 2022; or

(b) both:

(i) the purchase is not announced to the market, or the purchase is first announced to the market after the purchase occurs; and

(ii) the purchase occurs after 7:30 pm, by legal time in the Australian Capital Territory, on 25 October 2022.

(2) The purchase is announced to the market if:

(a) the rules of an approved stock exchange require the company to notify the stock exchange of the purchase for the purpose of release to the market; and

(b) notification of the purchase is released to the market following such disclosure.