INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteSubject to subsection (2), a company is a former exempting company if it has at any time ceased to be an exempting company and is not again an exempting company.
160APHBE(2) [Ownership by prescribed persons]If a company that, at any time whether before or after the commencement of this section, became or becomes effectively owned by prescribed persons ceased or ceases to be so effectively owned within 12 months after that time, the company is not taken, by so ceasing, to have become, or to become, a former exempting company.
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