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-B - Voting power  

Operative provisions

SECTION 167-80   When this Subdivision applies  

167-80(1)  
For the purposes of this Part, voting power in a company at one or more times can be worked out under section 167-85 if:


(a) the company ' s *shares do not all, at those times, carry the same voting rights for all matters affecting the company; or


(b) the company ' s shares do not carry all of the voting rights in the company;

whether this is because of the company ' s *constitution, an *arrangement or some other reason.

Note:

Disregard dual listed company voting shares (see section 167-90 ).

167-80(2)  
Further, if those times are consecutive times during a period, the voting power in the company can be worked out under section 167-85 as if that period consists only of:


(a) the time that period starts; and


(b) each later time (if any) during that period when there is a change in the maximum number of votes any entity could cast on a poll described in paragraph 167-85(1)(a) or (b).


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