INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 167 - Companies whose shares carry unequal rights to dividends, capital distributions or voting power  

Subdivision 167-A - Rights to dividends or capital distributions  

Operative provisions

SECTION 167-40   The valuing times for conditions listed in subsection 167-10(1)  

167-40(1)  
For the purposes of subsection 167-25(2) , the valuing times for the test period are:


(a) the time the test period starts; and


(b) the time just before, and the time just after, any of the following events that happen during the test period:


(i) the issue of *shares of a class of remaining shares;

(ii) the variation of rights attached to any remaining shares to receive *dividends or capital distributions;

(iii) the redemption or cancellation of any remaining shares; and


(c) the time the test period ends.

167-40(2)  
For paragraph (1)(b), disregard a time if it is outside the test period.


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