INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteFor the purposes of this Division, a company (in this section called the ``first company'' ) and another company (in this section called the ``second company'' ) are under common ownership at a particular time if, and only if:
(a) the first company was related to the second company at that time; or
(b) at that time:
(i) the total underlying share interests in the non-finance shares in the first company were held by natural persons who, at that time, held the total underlying share interests in the non-finance shares in the second company; and
(ii) the proportion of the total underlying share interests in the non-finance shares in the first company held by each natural person was the same as the proportion of the total underlying share interests in the non-finance shares in the second company held by that person.
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