Tax Laws Amendment (2004 Measures No. 7) Act 2005 (41 of 2005)

Schedule 3   Employee share schemes

Income Tax Assessment Act 1936

14   After section 139GC


139GCA Meaning of subsidiary

The expression subsidiary has the same meaning as in the Corporations Act 2001.

139GCB Meaning of 100% takeover

A 100% takeover of a company by another company is an arrangement that is intended to result in the company becoming a 100% subsidiary of the other company, or of a holding company or subsidiary of the other company.

139GCC Meaning of restructure

A restructure of a company is a change in the ownership, or the structure of the ownership, of the company as a result of which some or all shares or rights held in the company under an employee share scheme immediately before the change:

(a) are replaced; or

(b) could reasonably be regarded as having been replaced;

wholly or partly by shares or rights in one or more other companies.

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