Document ID: chunk:federal_register_of_legislation:C2025C00014:section:366:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 366 (pt 2/2)
Character Range: 1955611–1956427

otherwise than on winding‑up, is to be worked out by:
 (a) ascertaining whichever of the following is applicable:
 (i) the capital of the company as at the end of the statutory accounting period;
 (ii) the profits of the company for the statutory accounting period; and
 (b) assuming that the rights to such distributions that the entity holds, or is entitled to acquire, at the test time were the same at all other times during the statutory accounting period; and
 (c) ascertaining the percentage concerned:
 (i) at the end of the statutory accounting period instead of at the test time; and
 (ii) on that assumption.
 (5) Eligible finance shares, widely distributed finance shares and transitional finance shares in a company are to be ignored for the purposes of the application of subsection (1) to the company.