Taxation Laws Amendment Act (No. 3) 1997 (147 of 1997)

Schedule 14   Gains and losses

Part 2   Income Tax Assessment Act 1936 (capital gains and capital losses)

36   Subsections 160ZP(9) and (9A)

Repeal the subsections, substitute:

(9) If the loss company is required to calculate a net capital loss in respect of the loss year under Division 3A or Division 3D, no part of a net capital loss incurred by that company in respect of that year is capable of being specified in an agreement under paragraph (7)(c).