Income Tax Assessment Act 1997

CHAPTER 6 - THE DICTIONARY  

PART 6-1 - CONCEPTS AND TOPICS  

Division 975 - Concepts about companies  

Subdivision 975-A - General  

SECTION 975-150   Position to affect rights in relation to a company  

975-150(1)    
A person is in a position to affect rights of a company in relation to another company if the person has a right, power or option:

(a) to acquire those rights from one or other of those companies; or

(b) to do something that would prevent one or other of those companies from exercising its rights for its own benefit, or from receiving any benefit arising from having those rights.

975-150(2)    
It does not matter whether the person has the right, power or option because of the *constitution of one or other of those companies, any agreement or otherwise.

975-150(3)    

However, the right, power or option of an owner of *ownership interests in the *head entity of a *demerger group to *acquire, under a *demerger, ownership interests in the *demerged entity is not a right, power or option covered by subsection (1).