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INCOME TAX ASSESSMENT ACT 1997 - SECT 960.235 Abnormal trading--suspected 5% of shares or units in a series of transactions

INCOME TAX ASSESSMENT ACT 1997 - SECT 960.235

Abnormal trading--suspected 5% of shares or units in a series of transactions

  (1)   There is an abnormal trading in * shares in a company, or in units in a unit trust, if the company or trustee knows or reasonably suspects that an entity (or an entity and one or more of the entity's * associates) has acquired (or redeemed) 5% or more of the shares or units in 2 or more transactions and would not have done so if the company or trust did not have a * tax loss or other deduction.

Time when abnormal trading happens

  (2)   The * abnormal trading happens at the time of the particular transaction that causes the 5% figure to be exceeded.