Clean Energy (Consequential Amendments) Act 2011 (132 of 2011)

Schedule 2   Taxation amendments

Part 2   Amendments commencing at the same time as section 3 of the Clean Energy Act 2011 commences

Income Tax Assessment Act 1997

25   After subsection 126-50(3)


(3A) If:

(a) the roll-over asset is an option referred to in Division 134; and

(b) the recipient company*acquires another*CGT asset by exercising the option;

the other asset cannot become a*registered emissions unit*held by the recipient company just after the recipient company acquired it.