Treasury Laws Amendment (Mutual Reforms) Act 2019 (37 of 2019)

Schedule 2   Mutual capital instruments (MCIs)

Part 2   Consequential amendments of other Acts

Income Tax Assessment Act 1936

13   At the end of subsection 121AB(1)


; or (d) if the insurance company is a mutual entity (within the meaning of the Corporations Act 2001) - that would be covered by paragraph (a), (b) or (c) if the following were disregarded:

(i) any MCIs (within the meaning of that Act) issued by the entity;

(ii) any dividends or profits paid or payable in respect of such MCIs;

(iii) any members of the entity who are members by virtue of holding such MCIs.