INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteIf:
(a) immediately before the commencement of this section, an investment body was liable, under subsection 221YHZDA(1) as in force at that time, to pay to a person the whole or part of the amount of a deduction made in error; and
(b) the deduction was made on or before 30 June 1995; and
(c) as at the commencement of this section, the person had not applied to the investment body for a refund of the whole or the part of the amount on the basis of the error, and the investment body had not otherwise become aware of the error;
then:
(d) on the commencement of this section, the investment body ceases to be liable to pay the whole or the part of the amount, and the Commissioner instead becomes liable to pay the whole or the part of the amount, to the person; and
(e) the person is not entitled to a credit under section 221YHZK in respect of the whole or the part of the amount.
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