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INCOME TAX ASSESSMENT ACT 1936 - SECT 265B

Notices in relation to certain securities

             (1)  Subject to subsection (2), for the purposes of this section:

                     (a)  expressions used in this section that are also used in Division 16E of Part III have the same respective meanings as in that Division; and

                     (b)  sections 159GV (other than subsection 159GV(2)) and 159GZ apply as if references in those sections to this Division were references to section 265B .

             (2)  Subsection (1) applies as if paragraph (c) of the definition of qualifying security in subsection 159GP(1) were omitted.

             (3)  The holder of a security, not being a prescribed security within the meaning of section 26C, may apply at any time to the issuer for a notice under this section in relation to the security.

             (4)  Where the issuer of a security receives an application under subsection (3) in relation to the security, the issuer shall within 21 days of receipt of the application issue a notice in writing to the applicant, expressed to be issued under this section and identifying the security, that states that the notice was issued at a specified time on a specified date and:

                     (a)  where the security is not a qualifying security--that the security is not a qualifying security; or

                     (b)  where the security is a qualifying security--that:

                              (i)  the security is a qualifying security;

                             (ii)  the security was issued for a specified consideration;

                            (iii)  where the security was partially redeemed on one or more occasions before the time of issue of the notice--that the security was partially redeemed by a specified amount or amounts on a specified date or dates; and

                            (iv)  where the security was varied to become a qualifying security--the security was varied, for a specified consideration, to become a qualifying security.



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