Document ID: chunk:federal_register_of_legislation:C2015A00130:clause:4_1:p1
Version: federal_register_of_legislation:C2015A00130
Segment Type: clause
Provision Reference: sch 4 cl 1 (pt 1/4)
Character Range: 53222–56707

1                                                           (a) paragraph 165‑115C(1)(b) or (c) or 165‑115L(1)(b) or (c);               a time that is the time, or one of the times, to which that provision relates
                                                            (b) subparagraph 165‑115X(1)(b)(ii) or (iii);
                                                            (c) paragraph 165‑115Z(1)(b) or (c);
                                                            (d) subsection 166‑145(3) or (4);
                                                            (e) subparagraph 166‑175(1)(e)(ii) or (iii);
                                                            (f) paragraph 166‑225(1)(b) or (c);
                                                            (g) subparagraph 166‑230(1)(a)(ii) or (iii);
                                                            (h) paragraph 166‑240(1)(b) or (c);
                                                            (i) subparagraph 166‑255(1)(e)(ii) or (iii) or 166‑260(1)(e)(ii) or (iii);
                                                            (j) paragraph 166‑260(3)(b) or (c) or 166‑270(2)(c);
                                                            (k) paragraph 170‑260(3)(b) or (c) or 170‑265(2)(b) or (c)

Note 1: Each of these conditions is about rights to the company's dividends or capital distributions.
Note 2: If a condition cannot be worked out for several of the times to which the provision relates, apply this Subdivision separately for each of those times.

Meaning of unequal share structure
 (3) A company has an unequal share structure at a particular time if, at that time:
 (a) the company's *shares do not all carry the same rights to *dividends, or capital distributions, of the company; or
 (b) some or all of the company's shares carry discretionary rights to dividends, or capital distributions, of the company; or
 (c) the company is a *co‑operative company that has *on issue one or more interests (other than shares) in the company's capital.

167‑15  First way—disregard debt interests
 (1) The unsatisfied condition may be reconsidered by disregarding any *debt interests in each unequally structured company.
 (2) The way an entity prepares its *income tax return is sufficient evidence of it choosing to work out the unsatisfied condition under subsection (1).

167‑20  Second way—also disregard secondary share classes
 (1) This section applies in relation to each unequally structured company if:
 (a) despite section 167‑15, the unsatisfied condition cannot be worked out; and
 (b) on the last day of the test period or at the test time (as appropriate), there is *on issue in that company one or more classes of *shares (the secondary share classes) other than:
 (i) the class or classes of ordinary or common shares that represent the majority of that company's value; and
 (ii) *debt interests; and
 (c) it is reasonable to conclude that the total *market value of the secondary share classes does not exceed 25% of the total market value of all of that company's shares (other than debt interests); and
 (d) for one or more of the secondary share classes, it is reasonable to conclude that the market value of each of them does not exceed 10% of the total market value of all of that company's shares (other than debt interests).
Note: This section can apply separately for each unequally structured company.
 (2) For the purposes of subsection (1), use *market values on the