Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)
Schedule 7 Miscellaneous amendments
Part 1 Resource rent taxation
Petroleum Resource Rent Tax Assessment Act 1987
143 After subclause 31(2) of Schedule 1
(a) at a time (the cessation time ) after the expenditure was incurred and on or after 1 July 1993, the loss company ceased to hold any interest in relation to the transferring entity; and
(b) the cessation did not occur because of a transaction to which section 48 applies;
subclause (1) does not require the loss company to have held an interest in relation to the transferring entity at a time after the cessation time.