Document ID: chunk:federal_register_of_legislation:C2025C00014:section:94g
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 94G
Character Range: 622111–623182

94G  Continuity of ownership test
  In determining whether a limited partnership is a corporate limited partnership in relation to a year of income, the partnership passes the continuity of ownership test if, and only if:
 (a) at all times during the period:
 (i) beginning on 19 August 1992; and
 (ii) ending at the end of the year of income;
  more than 50% of the interests in the partnership were held by persons who, immediately before that period, held more than 50% of the interests in the partnership; or
 (b) the condition set out in paragraph (a) is not satisfied only because of the acquisition during so much of that period as occurred before 1 July 1993 of interests in the partnership, where the acquisitions are in response to, and in accordance with the terms of:
 (i) a prospectus, offer or invitation issued before 19 August 1992; or
 (ii) if that prospectus, offer or invitation was varied before 19 August 1992—that prospectus, offer or invitation as so varied.

Subdivision C—Corporate tax modifications applicable to corporate limited partnerships