Document ID: chunk:federal_register_of_legislation:C2019A00037:clause:2_16
Version: federal_register_of_legislation:C2019A00037
Segment Type: clause
Provision Reference: sch 2 cl 16
Character Range: 16233–16696

16  After subsection 326‑10(1) of Schedule 2H
Insert:
 (1A) If the entity is a mutual entity (within the meaning of the Corporations Act 2001), then, for the purposes of subsection (1), disregard the following:
 (a) any MCIs (within the meaning of that Act) issued by the entity;
 (b) any dividends or profits paid or payable in respect of such MCIs;
 (c) any members of the entity who are members by virtue of holding such MCIs.

Income Tax Assessment Act 1997