Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p41
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 41/46)
Character Range: 3153570–3156320

have rights to the lower percentage of the dividends or distributions of capital at the ownership test time.

Acquisition of tested company by new interposed entity—minimum control of voting power
 (3) If:
 (a) the *ownership test time is after the start of the *test period; and
 (b) at the start of the test period, a single notional entity mentioned in section 166‑225 had voting power in a company (disregarding subsection 166‑230(5)); and
 (c) under subsection 166‑230(5), a new interposed entity is taken to have held that voting power at the start of the test period; and
 (d) at the ownership test time, the voting power in the company held indirectly by stakeholders covered by subsection 166‑230(1) is greater than the voting power that the single notional entity had at the start of the test period;
then the stakeholders referred to in paragraph (d) are, collectively, taken to have indirect voting power in the company at the ownership test time only to the extent that the single notional entity had it at the start of the test period.

Acquisition of tested company by new interposed entity—minimum percentage of rights to dividends and capital
 (4) If:
 (a) the *ownership test time is after the start of the *test period; and
 (b) at the start of the test period, a single notional entity mentioned in section 166‑225 had a percentage of rights to the *dividends or distributions of capital of a company (disregarding subsection 166‑230(5)); and
 (c) under subsection 166‑230(5), a new interposed entity is taken to have had those rights at the start of the test period; and
 (d) the percentage that stakeholders covered by subsection 166‑230(1) have rights to indirectly at the ownership test time is greater than the percentage (the lower percentage) of the dividends or distributions of capital of the company that the single notional entity had rights to at the start of the test period;
then the stakeholders referred to in paragraph (d) are, collectively, taken to have indirect rights to the lower percentage of the dividends or distributions of capital at the ownership test time.

166‑272  Same shares or interests to be held

Application
 (1) This section modifies how the ownership tests in section 166‑145 are applied to a *voting stake, a *dividend stake or a *capital stake in the tested company held by one of the following entities (the stakeholder):
 (a) a top interposed entity mentioned in section 166‑230 (which is about indirect stakes of less than 10%);
 (b) a *widely held company mentioned in section 166‑240;
 (c) an entity mentioned in subsection 166‑245(2) (which is about stakes held by other entities);
 (d) a *depository entity mentioned in section 166‑260;
(whether directly, or *indirectly through one