INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 3CB - Tests for finding out whether the listed public company has maintained the same owners  

The ownership tests  

SECTION 160ZNSI  

160ZNSI   WHO HAS RIGHTS TO MORE THAN 50% OF THE LISTED PUBLIC COMPANY'S DIVIDENDS AT A PARTICULAR TIME  
If it is the case, or it is reasonable to assume, that there are persons (none of them companies) who, at the ownership test time, have between them the right to receive for their own benefit (whether directly, or indirectly through one or more interposed entities), more than 50% of any dividends that the listed public company may pay, those persons have rights to more than 50% of the listed public company's dividends at that time.