Document ID: chunk:federal_register_of_legislation:C2011C00698:clause:5_19
Version: federal_register_of_legislation:C2011C00698
Segment Type: clause
Provision Reference: sch 5 cl 19
Character Range: 77022–77711

19  Subsection 705‑125(1)
Omit "That mechanism involves working out a factor by which the pre‑CGT status can be attached to the joining entity's assets and then recognised in membership interests held in an entity that owns the assets on ceasing to be a *subsidiary member of the joined group.", substitute "That mechanism involves:
 (a) working out the proportion (measured by market value) of the membership interests in the joining entity that have pre‑CGT status; and
 (b) if the joining entity later ceases being a member of the group, attaching pre‑CGT status to that proportion of membership interests in it (see section 711‑65), subject to integrity rules (see section 711‑70).".