Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 149.50

  (1)   This Subdivision provides for when a * CGT asset of an entity of any of these kinds stops being a * pre - CGT asset:

  (a)   a company * shares in which (except shares that carry the right to a fixed rate of * dividend) are listed for quotation in the official list of an * approved stock exchange;

  (b)   a * publicly traded unit trust;

  (c)   a * mutual insurance company;

  (d)   a * mutual affiliate company;

  (e)   a company (other than one covered by paragraph   (a)) all the * shares in which are beneficially owned, whether directly, or indirectly through one or more interposed entities, by one or more of the following:

  (i)   a company covered by paragraph   (a);

  (ii)   a * mutual insurance company;

  (iii)   a * mutual affiliate company;

  (iv)   a * publicly traded unit trust;

  (2)   A publicly traded unit trust is a unit trust the units in which:

  (a)   are listed for quotation in the official list of an * approved stock exchange; or

  (b)   are ordinarily available for subscription or purchase by the public.

  (3)   This Division applies as if what is done or not done by the trustee of a * publicly traded unit trust had been done or not done by the trust.