Part XI repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. No 114 of 2010, Sch 1 item 95 contains the following saving provisions:

95 Saving of regulations relating to stock exchanges  
95
Despite the repeal of the definition of approved stock exchange in section 470 of the Income Tax Assessment Act 1936 by item 37 of this Schedule, regulations made for the purposes of that definition that were in force immediately before this item commences continue in force on and after that commencement as if those regulations had been made for the purposes of the definition of approved stock exchange in the Income Tax Assessment Act 1997 as inserted by item 81 of this Schedule. 96 Saving of elections relating to foreign hybrids  
96
Despite the repeal of subsection 485AA(1) of the Income Tax Assessment Act 1936 by item 37 of this Schedule, elections made under that subsection continue to have effect on and after the commencement of this Schedule as if that repeal had not happened.

Part XI inserted by No 190 of 1992.

Div 3 repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. For saving provisions, see note under Part XI heading.

S 498 repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. For saving provisions, see note under Part XI heading. S 498 formerly read:

SECTION 498 HOW TO DETERMINE WHETHER A FOREIGN COMPANY IS TAKEN TO HAVE BEEN PRINCIPALLY ENGAGED IN ELIGIBLE ACTIVITIES  
498(1)
The question whether a foreign company is taken to have been principally engaged in eligible activities at the test time in relation to a notional accounting period is to be determined either:

(a) by ascertaining, by the stock exchange listing method applicable under section 499 , the designation accorded to the company at the test time by an approved stock exchange or an international sectoral classification system; or

(b) by ascertaining, by the balance-sheet method applicable under section 500 , the extent to which the company's assets were for use in eligible activities at the test time.
498(2)
If both of those methods are capable of being applied, the question is to be determined in relation to a particular taxpayer by whichever method the taxpayer chooses.
498(3)
If one only of those methods is capable of being applied, the question is to be determined by that method.
498(4)
If neither of those methods is capable of being applied, section 497 does not exempt the taxpayer from the application of the operative provision in relation to the company in respect of the notional accounting period.

S 498 inserted by No 190 of 1992.