Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p35
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 35/46)
Character Range: 3139402–3142034

(2) directly or indirectly (through one or more interposed entities) holds a *voting stake, a *dividend stake or a *capital stake in the company; and
 (b) neither the entity nor another entity has, under section 166‑225, 166‑230 or 166‑240, been taken to control voting power or have rights in respect of the stake; and
 (c) the entity mentioned in subsection (2) satisfies the condition in subsection (3).
Note: Other rules might affect this provision: see sections 166‑272, 166‑275 and 166‑280.
 (2) For the purposes of subsection (1), these are the entities:
 (a) a *superannuation fund; and
 (b) an *approved deposit fund; and
 (c) a *special company; and
 (d) a *managed investment scheme; and
 (e) any other entity, or entity of a kind, prescribed by the regulations.
 (3) For the purposes of paragraph (1)(c), an entity satisfies the condition in this subsection if at all times during the income year of the tested company in which the *ownership test time occurs:
 (a) if the entity is a *superannuation fund:
 (i) the fund is a *complying superannuation fund; or
 (ii) the fund is a superannuation fund that is established in a foreign country and is regulated under a *foreign law; or
 (b) if the entity is an *approved deposit fund—the fund is a *complying approved deposit fund; or
 (c) if the entity is a *special company—the company is a special company; or
 (d) if the entity is a *managed investment scheme:
 (i) the scheme is registered under the Corporations Act 2001; or
 (ii) the entity is recognised, under a *foreign law relating to corporate regulation, as an entity with a similar status to a managed investment scheme; or
 (e) if the entity is an entity, or an entity of a kind, prescribed by the regulations—the entity meets any conditions prescribed by the regulations.
Note: See section 165‑255 for the rule about incomplete periods.

If the entity has 10 members or fewer
 (4) If the entity has 10 *members or fewer, the tests are applied to the tested company as if, at the *ownership test time:
 (a) if the stake is a *voting stake—each member controls, or is able to control, an equal proportion of the voting power in the tested company that is carried by that stake at that time; and
 (b) if the stake is a *dividend stake—each member had the right to receive (whether directly or *indirectly), for its own benefit, an equal proportion of any *dividends the tested company may pay in respect of that stake at that time; and
 (c) if the stake is a *capital stake—each member had the right to receive (whether directly or indirectly), for its own benefit, an equal proportion of any distributions of