Document ID: chunk:federal_register_of_legislation:C2020A00049:clause:2_7
Version: federal_register_of_legislation:C2020A00049
Segment Type: clause
Provision Reference: sch 2 cl 7
Character Range: 13163–14056

7  Application of amendments
The amendments made by items 1, 2, 4 and 5 of this Schedule apply in relation to a transferring entity and a receiving entity if:
 (a) the condition in subsection 310‑10(3), 310‑15(3) or 310‑20(3) of the Income Tax Assessment Act 1997 for those entities is satisfied on or after 1 October 2011; and
 (b) all of the transfer events (if any) referred to in subsection 310‑45(2) of that Act for those entities happen on or after 1 October 2011.
Note 1: The effect of paragraph (a) is that all of the members of the original fund will need to become members of a continuing fund on or after 1 October 2011.
Note 2: The effect of paragraph (b) is that the transferring entity needs to cease to hold all relevant assets on or after 1 October 2011.

[Minister's second reading speech made in—
House of Representatives on 12 February 2020
Senate on 14 May 2020]

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