Commonwealth Numbered Regulations

1991 No. 390 INCOME TAX REGULATIONS (AMENDMENT) - REG 2

  2.1   Subregulation 42 (1) (definition of "eligible termination payment"):
Omit the definition, substitute:

"ETP" has the same meaning as in subsection 27A (1) of the Act;".
  2.2   Subregulation 42 (1) (definition of "post-June 83 component"): Omit
the definition, substitute:

"post-June 83 component", in relation to an ETP, means the amount that would
be the post-June 83 component of that ETP for the purposes of paragraph (e) of
subsection 27AA (1) of the Act, if:

   (a)  paragraph (ca) of that subsection were omitted; and

   (b)  the expression "- EC" (wherever occurring) were omitted from paragraph
        (d) of that subsection;".
  2.3   Subregulation 42 (1) (definition of "pre-July 83 component"): Omit the
definition, substitute:

"pre-July 83 component", in relation to an ETP, means the amount that would be
the pre-July 83 component of that ETP for the purposes of paragraph 27AA (1)
(d) of the Act if the expression "- EC" (wherever occurring) were omitted from
that paragraph;".
  2.4   Subregulation 42 (1) (definition of "roll-over payment"):
Omit " eligible termination payment", substitute "ETP".
  2.5   Subregulations 42 (2), (3) and (5):
Omit " eligible termination payment" (wherever occurring), substitute "ETP".
  2.6   Subregulation 42 (6): Omit the subregulation, substitute:


"(6) Subregulation (2) does not apply to a taxpayer if regulation 99 does not
apply in relation to an ETP to be made to the taxpayer because of
subregulation 99 (6).".