Division 2 - Application  


160S(1)   [No acquisition or disposal]  

For the purposes of this Part, the transfer by way of security of an asset or of an interest or right in or over an asset, or the transfer of a subsisting interest or right by way of security in or over an asset (including a re-transfer on redemption of the security), does not constitute an acquisition or disposal of the asset.

160S(2)   [Acquisition free of security, acquisition subject to security]  

For the purposes of this Part:

(a) an asset shall be treated as having been acquired free of any interest or right by way of security subsisting at the time of acquisition and as having been disposed of free of any such interest or right subsisting at the time of disposal; and

(b) where an asset is acquired subject to any such interest or right - the full amount of the liability thereby assumed by the person acquiring the asset forms part of the consideration for the acquisition of the asset by that person, and for the disposal of the asset by the person from whom it was acquired, in addition to any other consideration paid or given for the acquisition and disposal.


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