Document ID: chunk:federal_register_of_legislation:C2010C00605:clause:5_3
Version: federal_register_of_legislation:C2010C00605
Segment Type: clause
Provision Reference: sch 5 cl 3
Character Range: 85621–86182

3  At the end of subsection 711‑15(1)
Add:
 ; and (d) finally, if the leaving entity is a trust—for each membership interest in the trust that satisfies these conditions:
 (i) it is neither a unit nor an interest in the trust;
 (ii) the member of the old group that held it began to hold it only because money or property was settled on the trust;
 (iii) it either had no *cost base or it had a cost base of nil;
  reducing the result under paragraph (c) to nil.

Note: Compare the treatment of such interests when an entity joins a group: see section 713‑20.