Tax Laws Amendment (2004 Measures No. 2) Act 2004 (83 of 2004)
Schedule 1 Life insurance companies
Part 1 Amendments commencing on 30 June 2000
Income Tax Assessment Act 1997
50 Subsection 320-225(3)
Repeal the subsection, substitute:
(3) The assets segregated must have, as at the time of the segregation, a total *transfer value that does not exceed the amount of the company's *exempt life insurance policy liabilities as at that time.