Commonwealth Consolidated Acts Commonwealth Consolidated ActsMere active participants
(1) An * equity or loan interest that an * active participant in the * scheme owns in another active participant immediately before the * IVS time is not an * affected interest in the * losing entity or in the * gaining entity unless one of the active participants is also covered by 1, 2, 3 or 4 in the table in subsection 727 - 530(1) (about who is an affected owner).
Entity that is a small business entity, or satisfies the maximum net asset value test for small business relief
(2) An * equity or loan interest that an entity (the owner ) owns immediately before the * IVS time is not an * affected interest in the * losing entity or in the * gaining entity if the owner:
(a) is a * small business entity for each income year that includes any of the * IVS period; or
(b) would satisfy the maximum net asset value test in section 152 - 15 throughout the * IVS period.
(3) If the owner is not in existence for part of the * IVS period, disregard that part in applying subsection (2).
Interests in superannuation entities not covered
(4) An * equity or loan interest in an * affected owner is not an * affected interest in the * losing entity or in the * gaining entity if the affected owner is an entity listed in section 727 - 125 (about superannuation entities) in relation to the income year in which the * IVS time happens.