Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 1/4)
Character Range: 7708627–7711392

3                              A partnership                                                                   the direct control interest (within the meaning of section 350 of the Income Tax Assessment Act 1936) that the first entity would hold in the other entity, if the assumptions in subsection (3) of this section were made

 (2) For the purposes of subsection (1):
 (a) apply sections 350 and 351 of the Income Tax Assessment Act 1936 as if those sections apply for the purposes of this Division rather than only for the purposes of Part X of that Act; and
 (b) do not apply subsections 350(6) and (7) and 351(3) and (4) of that Act.
 (3) For the purposes of item 3 of the table in subsection (1), assume that:
 (a) the *partnership is a company; and
 (b) the partners in the partnership are shareholders in the company; and
 (c) the total amount of assets or capital contributed to the partnership is the total paid‑up share capital of the company; and
 (d) a partner's right of distribution of capital, assets or profits on the dissolution of the partnership is a shareholder's right to distribution of capital or profits of the company on winding‑up; and
 (e) a partner's right of distribution of capital, assets or profits otherwise than on the dissolution of the partnership is a shareholder's right to distribution of capital or profits of the company otherwise than on winding‑up.

960‑195  Non‑portfolio interest test
  An interest held by an entity (the holding entity) in another entity (the test entity) passes the non‑portfolio interest test at a time if the sum of the *direct participation interests held by the holding entity and its *associates in the test entity at that time is 10% or more.

Subdivision 960‑H—Abnormal trading in shares or units

Table of sections
960‑220 Meaning of trading
960‑225 Abnormal trading
960‑230 Abnormal trading—5% of shares or units in one transaction
960‑235 Abnormal trading—suspected 5% of shares or units in a series of transactions
960‑240 Abnormal trading—suspected acquisition or merger
960‑245 Abnormal trading—20% of shares or units traded over 60 day period

960‑220  Meaning of trading

Shares in a listed public company
 (1) There is a trading in *shares in a company if there is an issue, redemption or transfer of those shares, or any other dealing in those shares, but only if it changes the respective proportions in which all the registered holders of shares in the company:
 (a) can exercise the voting power in the company; or
 (b) have the right to receive, as registered holders (whether or not for their own benefit) any dividends that the company may pay; or
 (c) have the right to receive, as registered holders (whether or not for their own benefit) any distribution of capital of the