INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
Subject to subsection (3), where:
(a) the holder of a security transfers the security to another person; and
(b) before the security was transferred, the holder gave to the transferee, in connection with the transfer, a notice expressed to be issued under section 265B and identifying the security,
then, for the purposes only of determining under this Division whether, or the extent to which, any amount is deemed to consist of interest under section 128AA in relation to the transfer of the security, that section shall be taken to apply as if the matters specified in the notice, being matters required to be stated under subsection 265B(4) , were correct and as if no variation or partial redemption of the security, other than any variation or partial redemption stated in the notice or advised in writing by the holder before the transfer, had occurred.
221YMA(2) [2 or more notices]Where the requirements of paragraph (1)(b) are satisfied in relation to 2 or more notices, subsection (1) applies only in relation to the notice that bears, as the stated time and date of issue of the notice, the later or latest time and date.
221YMA(3) [Certificate as to issue price of security]Where a certificate expressed to be issued under section 128AB is either:
(a) given by the person specified in the certificate to another person before, and in connection with, the transfer of the qualifying security identified in the certificate by the person specified in the certificate to the other person; or
(b) given by the person specified in the certificate to the issuer of the qualifying security identified in the certificate before, and in connection with, the redemption or partial redemption of the security from the person specified in the certificate,
then, for the purposes of any application of this Division in relation to the transfer, redemption or partial redemption, as the case may be, of the security:
(c) the amount of the transfer price specified in the certificate shall be taken to be the issue price of the security; and
(d) any partial redemption of the security that took place before the date specified in the certificate shall be taken not to have occurred. 221YMA(4) [2 or more certificates]
Where 2 or more certificates expressed to be issued under section 128AB that identify the same security are given to a person in circumstances referred to in paragraph (3)(a) or (b), subsection (3) applies only in relation to the certificate in which is specified the later or latest date.
221YMA(5) [No certificate identifying qualifying security issued before transfer]Where, before the transfer to a person, or the redemption or partial redemption by a person, of a qualifying security, no certificate expressed to be issued under section 128AB that identifies the qualifying security was given to the person in connection with the transfer, redemption or partial redemption, then, for the purposes only of the application of this Division in relation to the transfer to the person, or the redemption or partial redemption by the person, of the qualifying security, any certificate issued under section 128AB that identifies the security shall be taken not to have been issued.
221YMA(6) [Interpretation]Subject to subsection (7), for the purposes of this section:
(a) expressions used in this section that are also used in Division 16E of Part III have the same respective meanings as in that Division; and
(b) sections 159GV (other than subsection 159GV(2) ) and 159GZ apply as if references in those sections to ``this Division'' were references to ``section 221YMA'' . 221YMA(7) [Definition of qualifying security]
Subsection (6) applies as if paragraph (c) of the definition of ``qualifying security'' in subsection 159GP(1) were omitted.
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