Document ID: chunk:federal_register_of_legislation:C2025C00014:schedule:2f:p58
Version: federal_register_of_legislation:C2025C00014
Segment Type: schedule
Provision Reference: sch 2F (pt 58/79)
Character Range: 2347301–2349928

the fixed entitlement as an individual and for the individual's own benefit; and
 (b) if the reference is in subsection 272‑105(2)—the fixed entitlement is treated as if it were held instead by more than 20 individuals and for their own benefit.

Funds or companies with 50 members or fewer
 (5) In the case of a fund or company that has 50 members or fewer, the fund or company is treated as if it did not have the entitlement, but the members are treated as if they had the entitlement in equal proportions.

Mixed application of subsections (4) and (5) in certain provisions
 (6) If, apart from this subsection:
 (a) the following apply:
 (i) for the purposes of section 266‑40 or subsection 267‑40(2), 267‑70(2), 268‑10(3), 268‑15(3) or 268‑25(4), it is necessary to determine whether individuals had fixed entitlements during a period; and
 (ii) the consequences in subsection (4) would apply to a fund or company for part of the period and the consequences in subsection (5) would apply for the remainder of the period; or
 (b) the following apply:
 (i) for the purposes of subsection 266‑90(1) or (2), 266‑125(2), 266‑165(2) or 268‑20(3), it is necessary to determine whether individuals had fixed entitlements at 2 times; and
 (ii) the consequences in subsection (4) would apply to a fund or company at one of the times and the consequences in subsection (5) would apply at the other time;
the consequences in subsection (5) instead apply to the fund or company for the whole of the period, or at both of the times, as the case may be.

Entities ceasing to be special companies
 (7) If:
 (a) subsection (4) or (5) applies in relation to a special company during a period (the special company period); and
 (b) the special company period ends when the special company ceases to be a special company without ceasing to exist; and
 (c) having regard to the matters set out in subsection (8), the Commissioner considers it fair and reasonable to treat one or more of the persons who were members of the special company immediately after it ceased to be a special company as having held the fixed entitlement mentioned in subsection (2) during the whole or part of the special company period;
then:
 (d) subsection (4) or (5) does not apply in relation to the special company during the whole or the part of the special company period; and
 (e) the one or more persons are, as mentioned in paragraph (c), treated as having the fixed entitlement instead of the company.

Matters for the purposes of paragraph (7)(c)
 (8) For the purposes of paragraph (7)(c), the matters are:
 (a) the identity of its members before and after