Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_3:p3
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 3/7)
Character Range: 315741–318289

the assets is a *precluded asset.

 (2) However, if at least one of the assets is a *precluded asset, you are taken to have *acquired a whole number of the *shares (but not all of them) before that day. The number is the greatest possible that (when expressed as a percentage of all the shares) does not exceed:

 • the total of the market values of the assets that are not *precluded assets, less any liabilities the company undertakes to discharge in respect of those assets;

expressed as a percentage of:

 • the total of the market values of all the assets, less any liabilities the company undertakes to discharge in respect of those assets.

Note: There are rules for working out what are the liabilities in respect of an asset: see section 122‑37.

 (3) The first element of each other *share's *cost base and *reduced cost base is the total of the market values of the *precluded assets (less any liabilities the company undertakes to discharge in respect of those assets) divided by the number of those other shares.

 (4) The market value of an asset is worked out when you *disposed of it. The *cost base or *reduced cost base of an asset is worked out at the same time.

122‑60  Assets acquired before and after 20 September 1985

 (1) If you *acquired some of the assets on or after 20 September 1985, you are taken to have acquired a whole number of the *shares (but not all of them) before that day. The number is the greatest possible that (when expressed as a percentage of all the shares) does not exceed:

 • the total of the market values of the assets (except any *precluded assets) that you acquired before that day, less any liabilities the company undertakes to discharge in respect of those assets;

expressed as a percentage of:

 • the total of the market values of all the assets, less any liabilities the company undertakes to discharge in respect of those assets.

 (2) The first element of each other *share's *cost base is the sum of the market values of the *precluded assets and the cost bases of the other assets that you *acquired on or after that day (less any liabilities the company undertakes to discharge in respect of all of those assets) divided by the number of those other shares.

Note: There are special indexation rules for roll‑overs: see Division 114.

 (3) The first element of each other *share's *reduced cost base is worked out similarly.

 (4) The market value of an asset is worked out when you *disposed of it. The *cost base or *reduced cost base of an asset is worked out