Document ID: chunk:federal_register_of_legislation:C2025C00134:section:67b:p1
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 67B (pt 1/2)
Character Range: 458566–461158

67B  Limited recourse borrowing arrangements—replacement assets
 (1) Subsection (2) applies to:
 (a) a reference in paragraph 67A(1)(b), (c), (d), (e) or (f) to an acquirable asset (the original asset); or
 (b) a reference in subsection 71(8) to an acquirable asset (the original asset) mentioned in paragraph 67A(1)(b);
(including a reference resulting from a previous application of subsection (2) of this section).
 (2) Treat the reference as being a reference to another single acquirable asset (the replacement asset) if:
 (a) the replacement asset replaces the original asset; and
 (b) subsection (3), (4), (5), (6), (7) or (8) applies.
 (3) This subsection applies if:
 (a) the original asset consists of:
 (i) a share in a company, or a collection of shares in a company; or
 (ii) a unit in a unit trust, or a collection of units in a unit trust; and
 (b) the replacement asset consists of:
 (i) a share in that company, or a collection of shares in that company; or
 (ii) a unit in that unit trust, or a collection of units in that unit trust; and
 (c) at the time the replacement occurs, the original asset and the replacement asset have the same market value.
 (4) This subsection applies if:
 (a) the original asset consists of an instalment receipt that confers a beneficial interest in:
 (i) a share in a company; or
 (ii) a collection of shares in a company; and
 (b) the replacement asset consists of that share or collection.
 (5) This subsection applies if:
 (a) the original asset consists of:
 (i) a share in a company, or a collection of shares in a company; or
 (ii) a unit in a unit trust, or a collection of units in a unit trust; and
 (b) the replacement asset consists of:
 (i) a share in another company, or a collection of shares in another company; or
 (ii) a unit in another unit trust, or a collection of units in another unit trust; and
 (c) the replacement occurs as a result of a takeover, merger, demerger or restructure of the company or unit trust mentioned in paragraph (a).
 (6) This subsection applies if:
 (a) the original asset consists of a share in a company, or a collection of shares in a company; and
 (b) the replacement asset consists of a stapled security, or a collection of stapled securities; and
 (c) each of those stapled securities consists of a single share, or a single collection of shares of the same class, stapled together with a single unit, or a single collection of units of the same class, in a unit trust; and
 (d) the replacement occurs under a scheme of arrangement of the company.
 (7) This subsection applies if:
 (a) the