Document ID: chunk:federal_register_of_legislation:C2014C00749:clause:15_1:p10
Version: federal_register_of_legislation:C2014C00749
Segment Type: clause
Provision Reference: sch 15 cl 1 (pt 10/18)
Character Range: 241282–243775

in market value of all down interests, it will be necessary to include decreases not only in your down interests, but also in those of other affected owners and of entities that are not affected owners.
 (2) However, if, having regard to all relevant circumstances, it is reasonable to conclude that the sole or main reason why a *direct value shift happened under a different scheme from one or more other direct value shifts was so that subsection (1) would not be satisfied for one or more of the direct value shifts mentioned in this subsection, subsection (1) does not apply (and is taken never to have applied) to any of the direct value shifts.
[The next section is section 725‑80.]

725‑80  Who is an affected owner of a down interest?
  An entity is an affected owner of a *down interest if, and only if, the entity owns the down interest at the *decrease time and at least one of these paragraphs is satisfied:
 (a) the entity is the controller;
 (b) the entity was an *associate of the controller at some time during or after the *scheme period;
 (c) the entity is an *active participant in the *scheme.

725‑85  Who is an affected owner of an up interest?
  An entity is an affected owner of an *up interest if, and only if:
 (a) there is at least one *affected owner of *down interests; and
 (b) the entity owns the up interest at the *increase time, or the interest is an up interest because it was issued to the entity at a *discount;
and at least one of these paragraphs is satisfied:
 (c) the entity is the controller;
 (d) the entity was an *associate of the controller at some time during or after the *scheme period;
 (e) at some time during or after the scheme period, the entity was an associate of an entity that is an affected owner of down interests because it was an associate of the controller at some time during or after that period;
 (f) the entity is an *active participant in the *scheme.

725‑90  Direct value shift that will be reversed
 (1) The *direct value shift does not have consequences for you under this Division if:
 (a) the one or more things referred to in paragraph 725‑145(1)(b) brought about a state of affairs, but for which the direct value shift would not have happened; and
 (b) as at the time referred to in that paragraph, it is more likely than not that, because of the *scheme, that state of affairs will cease to exist within 4 years after that time.
Example: Under a scheme, the voting rights attached to a class of shares in a company