Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 775.205

    A roll - over happens under a * facility agreement if:

  (a)   you discharge your obligation under an * eligible security issued by you under the agreement (the rolled - over security ); and

  (b)   at the same time, you issue a new eligible security (the new security ) under the agreement; and

  (c)   the issue of the new security is related to the discharge of your obligation under the rolled - over security in one of the following ways:

  (i)   your obligation under the rolled - over security is wholly or partly set off against your right to receive the * foreign currency issue price of the new security;

  (ii)   your obligation under the rolled - over security is wholly or partly satisfied by the issue of the new security; and

  (d)   you have made a choice for roll - over relief for the agreement, and that choice is in effect; and

  (e)   the new security is issued on or after the applicable commencement date; and

  (f)   if you have not made an election under section   775 - 150--the rolled - over security is issued on or after the applicable commencement date.

Note:   For applicable commencement date , see section   775 - 155.