Income Tax Assessment Act 1997



Division 126 - Same-asset roll-overs  

Subdivision 126-E - Entitlement to shares after demutualisation and scrip for scrip roll-over  

Operative provisions

SECTION 126-190   126-190   When there is a roll-over  

There is a roll-over if:

(a) an insurance company demutualises; and

(b) the trustee of a trust holds a *share issued under the demutualisation in trust for an entity to whom the share would have been issued if the entity could, and were in a position to, prove the entity's entitlement to the share; and

(c) the trustee obtains a roll-over under Subdivision 124-M of this Act (Scrip for scrip roll-over) for the share because the trustee exchanges the share for a share (the replacement share ) in another company (whether or not the trustee receives something in addition to the replacement share); and

(d) a *CGT event happens in relation to the replacement share because the entity becomes absolutely entitled to the share as against the trustee.


This Subdivision does not apply to the demutualisation of a private health insurer: see section 315-160 .


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