Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-80 - ROLL-OVERS APPLYING TO ASSETS GENERALLY  

Division 615 - Roll-overs for business restructures  

Subdivision 615-B - Further requirements for choosing to obtain roll-overs  

SECTION 615-35   615-35   ADI restructures - disregard certain preference shares  


For the purposes of this Division, disregard any *shares in the original entity that can be disregarded under subsection 703-37(4) if:


(a) the interposed company is a non-operating holding company within the meaning of the Financial Sector (Transfer and Restructure) Act 1999 ; and


(b) a restructure instrument under Part 4A of that Act is in force in relation to the interposed company; and


(c) because of the restructure to which the instrument relates, an *ADI becomes a subsidiary (within the meaning of that Act) of the interposed company; and


(d) the original entity is:


(i) the ADI; or

(ii) part of an extended licensed entity (within the meaning of the *prudential standards) that includes the ADI.

 

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