Taxation Laws Amendment Act 1993 (Repealed) (17 of 1993)

Part 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 16   Amendments relating to capital gains tax (roll-overs involving company groups)

55   Keeping of records

Section 160ZZU of the Principal Act is amended:

(a) by omitting from subsection (3) ", or after 6 December 1990 has acquired,";

(b) by omitting from paragraph (3)(b) all the words from and including "the transferee's status" to and including the end of subparagraph (i) and substituting the following:

"the transferee's status as a subsidiary (within the meaning of section 160ZZO) in relation to the ultimate holding company (within the meaning of section 160ZZOA) in respect of the disposal at a time before the earliest of the following:

(i) the break-up time mentioned in section 160ZZOA;";

(c) by omitting subsection (3A);

(d) by omitting from subsection (4) "and paragraphs (3A)(b) and (c)";

(e) by omitting from subsection (5) "or (3A)";

(f) by omitting from paragraph (6)(b) "and";

(g) by omitting paragraph (6)(c).