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INCOME TAX ASSESSMENT ACT 1997 - SECT 975.150 Position to affect rights in relation to a company

INCOME TAX ASSESSMENT ACT 1997 - SECT 975.150

Position to affect rights in relation to a company

  (1)   A person is in a position to affect rights of a company in relation to another company if the person has a right, power or option:

  (a)   to acquire those rights from one or other of those companies; or

  (b)   to do something that would prevent one or other of those companies from exercising its rights for its own benefit, or from receiving any benefit arising from having those rights.

  (2)   It does not matter whether the person has the right, power or option because of the * constitution of one or other of those companies, any agreement or otherwise.

  (3)   However, the right, power or option of an owner of * ownership interests in the * head entity of a * demerger group to * acquire, under a * demerger, ownership interests in the * demerged entity is not a right, power or option covered by subsection   (1).

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