Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 166.145

(1) There is substantial continuity of ownership of the *listed public company
as between the start of the *test period and another time in the test period
if (and only if) the conditions in this section are met.

Voting power

(2) There must be persons (none of them companies) who had *more than 50% of
the voting power in the *listed public company at the start of the *test
period. Also, those persons must have had *more than 50% of the voting power
in the *listed public company immediately after the other time in the test
period. To work out who had more than 50% of the voting power: see section
166-150.

Rights to dividends

(3) There must be persons (none of them companies) who had rights to

*more than 50% of the *listed public company's *dividends at the start of the
*test period. Also, those persons must have had rights to *more than 50% of
the *listed public company's dividends immediately after the other time in the
test period. To work out who had rights to more than 50% of the listed public
company's dividends: see section 166- 155.

Rights to capital distributions

(4) There must be persons (none of them companies) who had rights to

*more than 50% of the *listed public company's capital distributions at the
start of the *test period. Also, those persons must have had rights to *more
than 50% of the *listed public company's capital distributions immediately
after the other time in the test period. To work out who had rights to more
than 50% of the listed public company's capital distributions: see section
166-160.

When to apply the test

(5) To work out whether a condition in this section was satisfied at a time
(the ownership test time), apply the ownership test for that condition.