Income Tax Assessment Act 1997



Division 316 - Demutualisation of friendly society health or life insurers  

Subdivision 316-C - Cost base of shares and rights issued under the demutualisation  

Guide to Subdivision 316-C

SECTION 316-115   Entities to which section 316-105 applies  

This section covers an entity that:

(a) either:

(i) is or has been a *member of the *friendly society; or

(ii) is or has been insured through the friendly society or a health/life insurance subsidiary of the friendly society; and

(b) is entitled under the demutualisation to an allocation of demutualisation assets.

This section also covers an entity that has become entitled to an allocation of demutualisation assets because of the death of an individual who was an entity described in subsection (1).

This section also covers the trustee of a lost policy holders trust (see section 316-155 ).


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