Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 166.225

(1) This Subdivision also modifies how the ownership tests are applied to the
*head company if another *listed public company (the interposed company) meets
the conditions in subsections (2) and (3). For the ownership tests: see
sections 166-150, 166- 155 and 166-160.

(2) The *interposed company must be interposed between the *head company and
persons (none of them companies) who:

   (a)  control (or are able to control) voting power in the head company
        indirectly through the interposed company; or

   (b)  have the right to receive, for their own benefit and *indirectly
        through the interposed company, any *dividends the head company may
        pay; or

   (c)  have the right to receive, for their own benefit and *indirectly
        through the interposed company, any distributions of capital of the
        head company.

(3) The *interposed company must have:

   (a)  *voting shareholdings of less than 1%; or

   (b)  *dividend shareholdings of less than 1%; or

   (c)  *capital shareholdings of less than 1%.