Taxation Laws Amendment Act (No. 2) 1995 (169 of 1995)

Schedule 2   EMPLOYEE SHARE SCHEMES

Part 1   INCOME TAX ASSESSMENT ACT 1936

Division 2   Other amendments of the Income Tax Assessment Act 1936

3   After subsection 26AAC(4)

Insert:

"(4AA) This section does not apply to an acquisition by a taxpayer

of a share in a company, or of a right to acquire a share in a

company, if:

(a) an amount is, or apart from section 139BA would be, included in

the assessable income of the taxpayer under Division 13A in relation

to the acquisition; or

(b) in the case of a share-the share was acquired as a result of the

exercise of a right and this section did not apply in relation to the

acquisition of the right.".