Document ID: chunk:federal_register_of_legislation:C2025C00014:section:345:p3
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 345 (pt 3/3)
Character Range: 1910863–1912705

the property or services concerned.
 (11) Where:
 (a) the following subparagraphs apply to an entity (in this subsection called the defunct entity):
 (i) the defunct entity is a company, partnership or trust;
 (ii) the defunct entity transferred property or services (in this subsection called the original property or services) to a trust (including a transfer that was taken to have been made because of another application or applications of this subsection) at a particular time (in this subsection called the transfer time);
 (iii) if the defunct entity is a company—the company passes a resolution for its winding‑up, an order is made for the winding‑up of the company or a similar event occurs;
 (iv) if the defunct entity is a partnership—the partnership ceases to exist for the purposes of this Act;
 (v) if the defunct entity is a trust—the trust commences to be wound up or ceases to exist for the purposes of this Act; and
 (b) the Commissioner is satisfied that an entity (in this subsection called the successor entity) has benefited or is capable (whether by the exercise of a power of appointment or otherwise) of benefiting (either directly or indirectly through one or more interposed companies, partnerships or trusts) as a result of a transfer of property or services made by the defunct entity or a transfer of property or services made as a consequence of the defunct entity being wound up or ceasing to exist; and
 (c) the Commissioner is of the opinion that it is appropriate to apply this subsection to the successor entity;
then, for the purpose of determining whether the successor entity is an eligible transferor in relation to the trust referred to in subparagraph (a)(ii) at a time after the transfer time, the successor entity is to be taken to have transferred the original property or services to that trust.