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DUTIES ACT 2000 - SECT 250DH Definitions

DUTIES ACT 2000 - SECT 250DH

Definitions

In this Division—

"exchanging members" has the same meaning as in section 124-1045(1)(d) of the ITAA;

"interposed trust" means a unit trust scheme that is interposed between the exchanging members and the stapled entities in the course of, or as a result of, a roll-over;

"ITAA" means the Income Tax Assessment Act 1997 of the Commonwealth;

S. 250DH def. of

listed amended by No. 28/2011 s. 28(a).

"listed", in relation to the shares or units in a stapled entity, means listed for quotation on the ASX or a recognised stock exchange;

"ownership interest" has the same meaning as in section 125- 60 of the ITAA;

S. 250DH def. of public float amended by No. 28/2011 s. 28(b).

"public float" means a share float or an offer of units to create a public unit trust scheme

        (a)     the shares or units of which are quoted on the ASX or a recognised stock exchange and are offered to the public generally; and

        (b)     of which the issue of the shares or units to the public does not give any person and their related persons (other than the corporate entity that floated the shares or units) a combined beneficial interest in the floated entity greater than 20%; and

        (c)     that is not part of a scheme for the purpose of minimising duty otherwise payable under this Act;

"roll-over" means a roll-over that occurs on or after 1 July 2008 in the circumstances set out in section 124-1045 of the ITAA;

"stapled entity" has the same meaning as in section 124-1045(2) of the ITAA.

S. 250DI inserted by No. 31/2008 s. 12, amended by No. 38/2012 s. 10, substituted by No. 17/2019 s. 29.