Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_2:p3
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 3/9)
Character Range: 528169–530777

interests in the asset: see section 149‑140.

[This is the end of the Guide.]

Special tracing rules for certain companies and publicly traded unit trusts

149‑110  Holdings of less than 1% in the entity

 (1) If the entity (the head entity) is a company covered by paragraph 149‑50(1)(a), (e) or (f) or a *publicly traded unit trust, this Subdivision modifies how it may determine under section 149‑60 the *ultimate owners who had *underlying interests in the asset at a particular time.

 (2) If the entity is a company, there must have been at that time:

 (a) *dividend shareholdings of less than 1% in it; or

 (b) *capital shareholdings of less than 1% in it.

 (3) If the entity is a unit trust, there must have been at that time:

 (a) *income unitholdings of less than 1% in it; or

 (b) *capital unitholdings of less than 1% in it.

149‑115  Holdings of less than 1% in interposed company or unit trust

 (1) This Subdivision also modifies how the head entity may determine under section 149‑60 the *ultimate owners who had *underlying interests in the asset at a particular time if, at that time:

 (a) the head entity was a company covered by paragraph 149‑50(1)(a), (e) or (f) or a *publicly traded unit trust; and

 (b) another entity (an interposed company or trust) was such a company or unit trust and met the condition in subsection (2) and the one in either subsection (3) or (4).

 (2) The interposed company or trust must have been interposed between the head entity and *ultimate owners who *indirectly had beneficial interests in the asset or in any *ordinary income that may be derived from the asset.

 (3) In the case of a company, there must have been:

 (a) *dividend shareholdings of less than 1% in it; or

 (b) *capital shareholdings of less than 1% in it.

 (4) In the case of a unit trust, there must have been:

 (a) *income unitholdings of less than 1% in it; or

 (b) *capital unitholdings of less than 1% in it.

149‑120  Notional single shareholder or unitholder of head entity

Notional single shareholder

 (1) If the head entity is a company, it may make the determination on the basis that a single notional individual (the notional holder) had the right to receive, for his or her own benefit and directly:

 (a) any *dividends it may pay in respect of each *dividend shareholding of less than 1% in the entity at that time; and

 (b) any distributions of capital of the entity in respect of each *capital shareholding of less than 1% in the entity at that time.

 (2) If the head entity makes the determination on the basis mentioned