Document ID: chunk:federal_register_of_legislation:C2005A00147:clause:1_79:p13
Version: federal_register_of_legislation:C2005A00147
Segment Type: clause
Provision Reference: sch 1 cl 79 (pt 13/25)
Character Range: 64148–66813

company).

Note: The persons who actually control the voting power and have rights to dividends and capital are taken not to control that power or have those rights: see section 166‑265.

Acquisition of top interposed entity by another entity

 (3) If:
 (a) a new entity (the new interposed entity) acquires all the *shares or other interests in the top interposed entity (the old interposed entity); and
 (b) the new interposed entity has the same classes of shares or other interests as the old interposed entity; and
 (c) if the new interposed entity is a company—the shares are not *redeemable shares; and
 (d) in any case—each stakeholder holds the same proportion of the total *voting stakes, *dividend stakes or *capital stakes in the new interposed entity immediately after the acquisition as the stakeholder held in the old interposed entity immediately before the acquisition;
then, at all times that the old interposed entity held or is taken to have held a stake in the tested company, the new interposed entity is taken to have held that stake.

 (4) Except for the purposes of determining whether a time is an alteration time (within the meaning of section 165‑115L), section 166‑272 (which is about the same shares or interests) is to be disregarded when applying subsection (3).

166‑235  Voting, dividend and capital stakes

Meaning of voting stake

 (1) An entity holds a voting stake in a company if:
 (a) the entity is the registered holder of *shares in the company; and
 (b) the shares carry rights to exercise voting power in the company.

 (2) An entity (the stakeholder) also holds a voting stake in a company if:
 (a) one or more other entities are interposed between the company and the stakeholder; and
 (b) the stakeholder controls, or is able to control, voting power in the company indirectly through the interposed entity or entities.

Meaning of dividend stake

 (3) An entity holds a dividend stake in a company if:
 (a) the entity is the registered holder of *shares in the company; and
 (b) the shares carry rights to all or any *dividends that the company may pay.

 (4) An entity (the stakeholder) also holds a dividend stake in a company if:
 (a) one or more other entities are interposed between the company and the stakeholder; and
 (b) the stakeholder has the right to receive, for its own benefit and *indirectly through the interposed entity or entities, all or any *dividends that the company may pay.

Meaning of capital stake

 (5) An entity holds a capital stake in a company if:
 (a) the entity is the registered holder of *shares in the company; and
 (b) the shares carry rights to all or any of a distribution