A New Tax System (Goods and Services Tax) Amendment Regulations 2003 (No. 1) (37 of 2003)

Schedule 1   Amendments

[5]   Paragraph 48-10.02 (3) (b)

substitute

(b) shares of the company are held in such a way that:

(i) if there is 1 shareholder - the shareholder is a representative of a partner in the partnership; and

(ii) if there is more than 1 shareholder - at least 2 shareholders are representatives of different partners in the partnership.