Income Tax Assessment Act 1936

SCHEDULE 2H - DEMUTUALISATION OF MUTUAL ENTITIES OTHER THAN INSURANCE COMPANIES AND HEALTH INSURERS  

Division 326 - DEMUTUALISATION  

Subdivision 326-J - CGT consequences of change in rights attaching to special shares or replacement of special shares by ordinary shares  

SECTION 326-215   CHANGE OF RIGHTS TO, AND REPLACEMENT OF, SPECIAL SHARES  

326-215(1)  
This Subdivision applies where, under the distributing trust method of demutualisation of a mutual entity, the rights attaching to special shares issued to a trustee on behalf of a member become the same as the rights attaching to ordinary shares.

326-215(2)  

Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997 do not apply in respect of the change in rights.