Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p7
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 7/46)
Character Range: 3071249–3073834

affect how *shares, and rights carried by *shares, are counted for the purposes of determining:
 (a) the total voting power in the company; or
 (b) the total *dividends that the company may pay; or
 (c) the total distributions of capital of the company.
 (2) Section 165‑165 does not affect how units in a unit trust, or the rights carried by such units, are counted for the purposes of determining the total rights, or the total rights of a particular kind, in the trust of the holders of such units.

165‑202  Shares held by government entities and charities etc.
 (1) For the purposes of a test, *shares that are beneficially owned by each of the following entities are taken to be beneficially owned instead by a person (who is not a company):
 (a) the Commonwealth, a State or a Territory;
 (b) a municipal corporation;
 (c) a *local governing body;
 (d) the government of a foreign country, or of part of a foreign country;
 (e) a company, established under a law, in which no person has a *membership interest;
 (f) a *non‑profit company;
 (g) a charity that is not a trust;
 (h) a *complying superannuation fund;
 (i) a superannuation fund that is established in a foreign country and is regulated under a *foreign law;
 (j) a *complying approved deposit fund;
 (k) a *special company;
 (l) a *managed investment scheme.
 (2) For the purposes of a test, *shares that are beneficially owned through a charity that is a trust are taken to be beneficially owned instead by a person (who is neither a company nor a trustee).

165‑203  Companies where no shares have been issued
  For the purposes of a test, if no *shares have been issued in a company, each *membership interest in the company is taken to be a share in the company.

165‑205  Death of share owner
 (1) If an individual beneficially owns *shares in a company when he or she dies, this section applies if and while the shares:
 (a) are owned by the trustee of the deceased's estate; or
 (b) are beneficially owned by someone who receives them as a beneficiary of the deceased's estate.
 (2) For the purposes of a test:
 (a) the *shares are taken to continue to be beneficially owned by the deceased; and
 (b) as a result of being taken to continue to beneficially own the shares, the deceased is taken to continue:
 (i) to have any rights to exercise, or to be able to control (whether directly, or indirectly through one or more interposed entities), any of the voting power in the company; and
 (ii) to have any rights to receive for the deceased's own benefit (whether directly or *indirectly) any *dividends that