Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Despite any other provision of this Part, a share in a company, or a right to acquire a share in a company, acquired by a taxpayer is not a qualifying share or right if:
(a) the predominant business of the company (whether or not stated in its constituent documents) is the acquisition, sale or holding of shares, securities or other investments (whether directly or indirectly through one or more companies, partnerships or trusts); and
(b) the taxpayer is employed by the company and is also employed by another company; and
(c) the company and the other company are members of the same company group.
(2) A company is a member of the same company group as another company if one of the companies is a holding company of the other or if another company is a holding company of both companies.