Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of this Division, a right to acquire a share in a company is never acquired by a taxpayer if the following 2 requirements are satisfied.
(2) The first requirement is that the taxpayer loses the right without having exercised it.
(2A) To avoid doubt:
(a) the taxpayer does not lose the right if, because of section 139DQ, another right is treated, for the purposes of this Division, as if it were a continuation of that right; but
(b) the taxpayer loses the right if the taxpayer loses the other right without having exercised it.
(3) The second requirement is that the company was, at the time the right was acquired, the employer of the taxpayer or a holding company of the employer of the taxpayer.
(3A) To avoid doubt, the company does not cease to be the employer of the taxpayer or a holding company of the employer of the taxpayer if, because of section 139DQ, the taxpayer's employment by another company is treated, for the purposes of this Division, as if it were a continuation of that employment.
(3B) If, but for subsection 139DR(2), rights acquired by the taxpayer would, because of section 139DQ, be treated for the purposes of this Division as a continuation of other rights, the rights are to be treated for the purposes of this section as if they were a continuation of the other rights.
(4) Section 170 does not prevent the amendment of an assessment at any time for the purpose of giving effect to this section.