Income Tax Assessment Act 1997
This Division does not apply to the transferred amount if:
(a) immediately before the transfer of the amount, the company was not incorporated under the Corporations Act 2001 ; and
(b) the transfer is under, or in accordance with, an *Australian law that requires or allows either or both of the following to become part of the company ' s *share capital account:
(i) the company ' s share premium account;
(ii) the company ' s capital redemption reserve; and
(c) the transfer is made as part of a process that leads to there being no *shares in the company that have a par value; and
(d) the amount is transferred from the company ' s share premium account or capital redemption reserve.