Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 880.15

    Disregard a capital gain of a sovereign entity from a CGT event that happens in relation to a CGT asset if:

  (a)   the capital gain arises under a scheme; and

  (b)   the CGT asset is a membership interest, non - share equity interest or debt interest in another entity; and

  (c)   the requirements in paragraphs 880 - 5(b) to (g) are satisfied (on the assumption that references in those paragraphs to the investment asset were references to the CGT asset).