INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
For the purposes of this Division, the capital entitlement factor of a person in respect of a company at a particular time is the percentage that the person (together with any associates of the person who are non-residents) would be beneficially entitled to receive, directly or indirectly, of any distribution of capital that is, or may be, made by the company at that time.
159GZZ(2)
For the purposes of subsection (1):
(a) a person shall be taken to be beneficially entitled to receive indirectly a particular percentage of a distribution of capital of a company; or
(b) 2 or more persons shall be taken together to be beneficially entitled to receive indirectly a particular percentage of a distribution of capital of a company;
if, in the event of a distribution of capital of the company, the person or persons would (otherwise than as a shareholder or shareholders in the company or as a trustee or trustees) receive or have received that percentage of that distribution of capital, on the assumption that there had been successive distributions of the relative parts of that distribution of capital to and by each of any companies, partnerships or trustees interposed between the company making the distribution of capital and that person or those persons.
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