Treasury Laws Amendment (Mutual Reforms) Act 2019 (37 of 2019)
Schedule 2 Mutual capital instruments (MCIs)
Part 2 Consequential amendments of other Acts
Income Tax Assessment Act 1936
13 At the end of subsection 121AB(1)
; or (d) if the insurance company is a mutual entity (within the meaning of the Corporations Act 2001) - that would be covered by paragraph (a), (b) or (c) if the following were disregarded:
(i) any MCIs (within the meaning of that Act) issued by the entity;
(ii) any dividends or profits paid or payable in respect of such MCIs;
(iii) any members of the entity who are members by virtue of holding such MCIs.
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