INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 11A - Unit trust-issued options to unitholders to acquire unissued units  

SECTION 160ZYXA  

160ZYXA   APPLICATION  
Where:

(a) a person (in this Division called the ``unitholder'' ) holds units in a unit trust (in this Division called the ``original units'' );

(b) after 28 January 1988, the trustee of the unit trust issues to the unitholder an option (in this Division called the ``option'' ) to acquire other units (in this Division called the ``new units'' ) in the unit trust; and

(c) the unitholder did not pay or give any consideration in respect of the acquisition of the option;

sections 160ZYXB to 160ZYXE (inclusive) have effect.