Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005 (147 of 2005)

Schedule 1   Loss recoupment rules for companies etc.

Income Tax Assessment Act 1997

151   Subsection 995-1(1)

Insert:

managed investment scheme means an entity, with more than 20 members, that is:

(a) a managed investment scheme for the purposes of the Corporations Act 2001; or

(b) an entity with a similar status to a managed investment scheme under a *foreign law relating to corporate regulation.