Commonwealth Consolidated Acts

AUSTRALIAN AIRLINES (CONVERSION TO PUBLIC COMPANY) ACT 1988 - SECT 42

                   Paragraph 82AG(1)(a) of the Tax Act does not apply in relation to a disposal of property by the transferring body before the end of a particular period of 12 months if:

                     (a)  the disposal took place during the reorganisation;

                     (b)  the disposal was to a body corporate that was, at the time of the disposal, a new group company;

                     (c)  the property was not, at any time during that period, owned by a person other than the transferring body or a body corporate that was a new group company at that time; and

                     (d)  at no time during that period did a person who owned the property:

                              (i)  lease it, let it on hire under a hire‑purchase agreement or otherwise grant to another person a right to use it; or

                             (ii)  use it outside Australia or for a purpose other than the purpose of producing assessable income.