INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 10A - Rights to acquire units in a unit trust  

SECTION 160ZYQA  

160ZYQA   APPLICATION  
Where:

(a) a person (in this Division called the `` unitholder '') holds units in a unit trust (in this Division called the `` original units '');

(b) after 28 January 1988, the trustee of the unit trust issues to the unitholder rights (in this Division called the `` rights '') to acquire units (in this Division called `` new units '') in the unit trust or to acquire an option (in this Division called the `` option '') to acquire units in the unit trust; and

(c) the unitholder did not pay or give any consideration in respect of the acquisition of the rights;

sections 160ZYQB to 160ZYQE (inclusive) have effect.