Treasury Laws Amendment (Mutual Equity Interests) Regulations 2019 (F2019L00391)

Schedule 1   Amendments

Income Tax Assessment Regulations 1997

2   Subregulation 974-135F(4)

Repeal the subregulation, substitute:

(4) In this regulation, a condition applying to the obligation is a non-viability condition if the condition has the effect that if a non-viability trigger event occurs the note must be:

(a) written off; or

(b) converted into ordinary shares of the issuer of the note or a parent entity of the issuer; or

(c) converted into mutual equity interests of the issuer of the note or a parent entity of the issuer.