South Australian Consolidated Acts South Australian Consolidated Acts (1) For the purposes
of this Act, the value of shares in or debentures of any corporation, whether
incorporated under the law of South Australia or not, that are the subject of
a gift shall be determined upon the assumption that, on the day when the gift
was made, the memorandum and articles of association or rules of the
corporation satisfied the requirements prescribed by the committee or
governing authority of the Stock Exchange at the place where the share
register or debenture register is situated, for the purpose of enabling that
corporation to be placed on the current official list of that Stock Exchange.
(2) No regard shall,
in determining the value of shares in any corporation, be had to any
provisions in the memorandum or articles of association or rules of the
corporation whereby or whereunder the value of the shares is to be determined.
(3) The Commissioner
may, if he thinks fit, notwithstanding anything contained in
subsection (1) or (2) of this section, adopt as the value of any shares
of any class in or debentures of any class of any corporation (the shares or
debentures of that class not being quoted in the official list of any Stock
Exchange) such net benefit as in the opinion of the Commissioner the holder
thereof would receive after payment of all income taxes in respect thereof in
the event of the corporation being voluntarily wound up on the day when the
gift was made, notwithstanding that any such winding up is not intended or in
contemplation.