INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteThere is substantial continuity of ownership of the listed public company as between the start of the test period and another time in the test period if (and only if) the conditions in this section are met.
160ZNSG(2) Voting power.There must be persons (none of them companies) who had more than 50% of the voting power in the listed public company at the start of the test period. Also, those persons must have had more than 50% of the voting power in the listed public company immediately after the other time in the test period.
Note:
To work out who had more than 50% of the voting power: see section 160ZNSH.
160ZNSG(3) Rights to dividends.There must be persons (none of them companies) who had rights to more than 50% of the listed public company's dividends at the start of the test period. Also, those persons must have had rights to more than 50% of the listed public company's dividends immediately after the other time in the test period.
Note:
To work out who had rights to more than 50% of the listed public company's dividends: see section 160ZNSI .
160ZNSG(4) Rights to capital distributions.There must be persons (none of them companies) who had rights to more than 50% of the listed public company's capital distributions at the start of the test period. Also, those persons must have had rights to more than 50% of the listed public company's capital distributions immediately after the other time in the test period.
Note:
To work out who had rights to more than 50% of the listed public company's capital distributions: see section 160ZNSJ .
160ZNSG(5) When to apply the test.To work out whether a condition in this section was satisfied at a time (the ownership test time ), apply the ownership test for that condition.
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