Taxation Laws Amendment Act (No. 3) 1994 (138 of 1994)

Part 2   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 7   Amendments relating to short-term asset sales

Sub-Division C   Consequential amendments

70   Money paid before 1 July 1991 on shares in management and investment companies

Section 77F of the Principal Act is amended:

(a) by omitting from subsection (1) the definitions of "private company" and "private trust estate";
          

(b) by inserting in subsection (1) the following definitions:
          

" 'private company' means a company other than one whose shares are listed for quotation in the official list of a stock exchange in Australia or elsewhere;

'private trust estate' means a trust estate, other than a unit trust whose units are:

(a) listed for quotation in the official list of a stock exchange in Australia or elsewhere; or

(b) ordinarily available for subscription or purchase by the public;".