Tax Laws Amendment (2004 Measures No. 6) Act 2005 (23 of 2005)
Schedule 1 Consolidation
Part 2 Membership rules and insolvency etc.
Income Tax Assessment Act 1997
2 At the end of section 703-30 (after the note)
(3) For the purposes of this section, one entity is not prevented from being the beneficial owner of a *membership interest in another entity merely because the first entity is or becomes:
(a) an externally-administered body corporate within the meaning of the Corporations Act 2001; or
(b) an entity with a status under a *foreign law similar to the status of an externally-administered body corporate under the Corporations Act 2001.