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INCOME TAX ASSESSMENT ACT 1936 - SECT 159GZZZC

Interpretation--general

             (1)  In this Division:

"associate" has the same meaning as in section 318.

"cancellation" includes redemption.

"disposal" includes cancellation.

"entity" means a company, a partnership or a trust estate.

"pre-cancellation period" , in relation to a cancellation of shares to which this Division applies, means the period beginning when the holding company concerned became a holding company of the subsidiary concerned and ending at the time of the cancellation.

"security" means stock, a bond or debenture, or any other document evidencing the indebtedness of a person, whether or not the debt is secured.

             (3)  For the purposes of this Division, a company is:

                     (a)  a subsidiary of another company; or

                     (b)  the holding company of another company;

if the first-mentioned company is such for the purposes of the Corporations Act 2001 .

             (4)  For the purposes of this Division, a reference to an interest in an entity is a reference to a legal or equitable interest in:

                     (a)  if the entity is a company--shares in the company;

                     (b)  if the entity is a partnership--capital or profits of the partnership;

                     (c)  if the entity is a trust estate--corpus or income of the trust estate; or

                     (d)  in any case--securities issued by the entity.



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