Document ID: chunk:federal_register_of_legislation:C2005A00162:clause:6_4
Version: federal_register_of_legislation:C2005A00162
Segment Type: clause
Provision Reference: sch 6 cl 4
Character Range: 32387–33690

4  Subsection 164‑20(3)
Repeal the subsection, substitute:

 (3) If:
 (a) an *equity interest in the company changes at a particular time (the change time) to a *debt interest in the company because of subsection 974‑110(1) or (2); or
 (b) an equity interest in the company changes to a debt interest in the company, with effect from a time (the change time) that is the start of a particular income year, because of subsection 974‑110(1A); or
 (c) the following conditions are satisfied in relation to an interest in the company:
 (i) subsection 974‑75(6) does not apply to the interest in relation to a particular income year;
 (ii) the interest is an equity interest in the company at the end of that income year;
 (iii) subsection 974‑75(6) applies to the interest from the time (the change time) that is the start of the next income year;
there is, or is taken to have been, a debit to the *non‑share capital account at the change time equal to:
where:

credits in relation to the interest is the sum of all the credits that have been made to the *non‑share capital account in relation to the interest before the change time.

debits in relation to the interest is the sum of all the debits that have been made to the *non‑share capital account in relation to the interest before the change time.