Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of this Part, if:
(a) an asset of a superannuation fund was acquired:
(i) without consideration; or
(ii) for consideration other than the arm's length value of the asset when it was acquired; or
(b) the whole or a part of the consideration for which an asset of a superannuation fund was acquired was not money;
the cost of the asset is taken to be the arm's length value of the asset when it was acquired.
(2) In this section:
"arm's length value" , in relation to an asset, means the amount that the acquirer of the asset could reasonably be expected to have been required to pay to acquire the asset under a transaction where the parties to the transaction are dealing with each other at arm's length in relation to the transaction.