INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 1AA - Interpretative provisions relating to exempting companies and former exempting companies  

SECTION 160APHBE   FORMER EXEMPTING COMPANIES  

160APHBE(1)   [Definition]  

Subject to subsection (2), a company is a former exempting company if it has at any time ceased to be an exempting company and is not again an exempting company.

160APHBE(2)   [Ownership by prescribed persons]  

If a company that, at any time whether before or after the commencement of this section, became or becomes effectively owned by prescribed persons ceased or ceases to be so effectively owned within 12 months after that time, the company is not taken, by so ceasing, to have become, or to become, a former exempting company.


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