Northern Territory Numbered Acts

REVENUE AND OTHER LEGISLATION AMENDMENT ACT 2010 (NO 21 OF 2010) - SECT 25

After section 103

insert

104     Acquisition of interest by transfer of shares

    (1)     This section applies if, for the purposes of Part 3, Division 8:

    (a)     an acquisition of an interest in a corporation is, or is to be, evidenced by a transfer of shares; and

    (b)     the transfer of the shares was not made before 1 July 2010; and

    (c)     one or more of the dates mentioned in section 56CAA(2) occur on or after 1 July 2010 (whether or not any of those dates occurs before 1 July 2010).

    (2)     Despite section 56CAA(2), the acquisition of the interest is taken to occur on the earliest of those dates that occurs on or after 1 July 2010.