Document ID: chunk:federal_register_of_legislation:C2025C00014:section:128ab:p1
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 128AB (pt 1/2)
Character Range: 1217797–1220556

128AB  Certificates relating to issue price of certain securities
 (1) Where:
 (a) a qualifying security is or was transferred either before or after the commencement of this section; and
 (b) at the time of transfer either:
 (i) the transferor is or was a resident; or
 (ii) the transferor is or was a non‑resident and the transfer price is or was derived from a source in Australia;
the transferee may at any time after the transfer (including a time after the transferee ceases to be the holder of the security) apply, in the approved form, to the Commissioner for the issue of a certificate under this section.
 (3) Where the Commissioner is satisfied that the requirements of paragraph (1)(b) are satisfied in relation to the transfer of the qualifying security to which an application under subsection (1) relates and that the security was transferred on a particular date and for a particular consideration to the applicant, the Commissioner shall issue to the applicant a certificate that:
 (a) is expressed to be issued under this section;
 (b) identifies the security to which it relates;
 (c) specifies that date as the date of transfer;
 (d) specifies that consideration, or, where subsection 159GP(2) applies, the amount that is taken under that subsection to be the consideration for the transfer, as the transfer price; and
 (e) specifies the name of the applicant as the transferee.
 (4) Where the Commissioner issues a certificate under this section in relation to a qualifying security that has been transferred to a person, the following provisions have effect:
 (a) for the purposes of the application of this Division in relation to the first subsequent transfer (if any) of the qualifying security by the person:
 (i) the amount specified in the certificate shall be taken to be the issue price of the security; and
 (ii) where the security was partially redeemed before the transfer to the person—any such partial redemption shall be taken not to have occurred;
 (b) if the security is redeemed or partially redeemed without having been subsequently transferred by the person—in determining for the purposes of the application of this Division the extent (if any) to which the redemption payment comprises an amount that is interest by reason only of the definition of interest in subsection 128A(1AB):
 (i) the amount specified in the certificate as the transfer price shall be taken to be the issue price of the security; and
 (ii) where the security was partially redeemed before the transfer to the person—any such partial redemption shall be taken not to have occurred.
 (5) If the Commissioner refuses an application under subsection (1), the Commissioner shall serve on the applicant, by post or otherwise, notice in writing that