Document ID: chunk:federal_register_of_legislation:C2004A00986:clause:1_160aue
Version: federal_register_of_legislation:C2004A00986
Segment Type: clause
Provision Reference: sch 1 cl 160AUE
Character Range: 43115–44431

160AUE  Series of dividends crossing over 1 July 2001

 (1) This section deals with the situation in which:
 (a) a company pays a number of class C franked dividends under a resolution made before 1 July 2001; and
 (b) some of the dividends (the first series dividends) are paid before 1 July 2001; and
 (c) some of the dividends (the second series dividends) are paid on or after 1 July 2001.

 (2) For the purposes of this Part:
 (a) the first series dividends and the second series dividends are to be taken to have been made under separate resolutions; and
 (b) any declaration (the original declaration) made under section 160AQF or 160ASEL in relation to the dividends is taken to have effect only in relation to the first series dividends; and
 (c) the consequences provided for in the following table occur if the company does not make a declaration under section 160AQF or 160ASEL in relation to the second series dividends before the reckoning day for the second series dividends:

Default declaration for second series dividends
                                                 If...                                                                               the company is taken to have declared that...                                                                                         under...