Western Australian Consolidated Regulations Western Australian Consolidated Regulations (1) The market value
of a share, unit or right quoted on a recognised financial market on the
contribution day is —
(a) if
there was at least one transaction on the recognised financial market in
shares, units or rights of that class during the one week period up to and
including the contribution day — the weighted average of the prices at
which those shares, units or rights were traded on the recognised financial
market during that week; or
(b) if
during that week there were no transactions on the recognised financial market
in such shares, units or rights — the last price at which an offer was
made on the recognised financial market during that week to buy such a share,
unit or right.
(2) The market value
of a share or unit (except a unit in an unlisted public unit trust) that is
not quoted on a recognised financial market on the contribution day is the
arm’s length value of the share or unit —
(a) as
specified in a written report, in a form approved by the Commissioner, given
to the employer by a qualified valuer; or
(b) as
calculated in accordance with any other method approved in writing by the
Commissioner as a reasonable method of calculating the arm’s length
value of unlisted shares or units.
(3) The market value
of a unit in an unlisted public unit trust is the weighted average of the
issue prices for the units during the one week period up to and including the
contribution day.
(4) The market value
of a right not quoted on a recognised financial market on the contribution day
is the market value on that day of the share or unit that could be acquired by
exercising the right, minus the lowest amount that must be paid to exercise
the right to acquire the share or unit.
(5) For the purpose of
determining the market value of a share, unit or right under
subregulation (2), (3) or (4), the share, unit or right, and any share or
unit that could be acquired by exercising the right, is taken not to be
subject to any conditions or restrictions.
(6) If the lowest
amount that must be paid to exercise a right to acquire a share or unit is nil
or cannot be determined, the market value of the right on a particular day is
the same as the market value of the share or unit on that day.
(7) If on any day a
share, unit or right is quoted on 2 or more recognised financial markets, the
price on that day is the price on whichever of those recognised financial
markets is nominated by the employer, but if one or more of the recognised
financial markets on which the share, unit or right is quoted is an Australian
recognised financial market, the employer must nominate an Australian
recognised financial market.
(8) The market value
of a share, unit or right must be expressed in terms of Australian currency.
[Regulation 18 amended in Gazette
5 Nov 2004 p. 4986-7.]