Tax Law Improvement Act (No. 1) 1998 (46 of 1998)

2   CGT (new Parts 3-1, 3-3 and 3-5)

3   Consequential amendment of the Income Tax Assessment Act 1936

293   Section 121AS (table item 5, column headed 'Modification', modification 1)

Omit "The disposer does not incur a capital loss in respect of the disposal of the demutualisation share or interest in such a share,", substitute "A capital loss that the disposer makes from the disposal of the demutualisation share or interest in such a share is disregarded".