Commonwealth Consolidated Acts

AUSTRALIAN AIRLINES (CONVERSION TO PUBLIC COMPANY) ACT 1988 - SECT 38

             (1)  This section has effect for the purposes of the Tax Act if:

                     (a)  shares in the transferring body are issued under subsection 11(3) of this Act to the holding company; and

                     (b)  the holding company was dormant, within the meaning of Part VI of the Companies Act 1981 , throughout the period beginning when it was incorporated and ending immediately before the shares are so issued.

             (2)  For the purposes of determining whether the holding company is a group company in relation to a body corporate in relation to a period, the holding company shall be deemed not to have been in existence at any time during the period referred to in paragraph (1)(b).