Document ID: chunk:federal_register_of_legislation:C2025C00014:schedule:2h:p10
Version: federal_register_of_legislation:C2025C00014
Segment Type: schedule
Provision Reference: sch 2H (pt 10/165)
Character Range: 2420519–2423262

mutual entity; and
 (c) the disposer is a pre‑CGT member; and
 (d) the disposal occurs before the demutualisation listing day;
then, for the purpose of working out whether the disposer made a capital gain or capital loss from the disposal, the disposer is taken to have done the following:
 (e) to have paid for the acquisition of the share or interest the amount worked out by using the formula:

 (f) to have paid that amount on the demutualisation resolution day;
 (g) to have acquired the share or interest on the demutualisation resolution day.
 (2) In the formula in paragraph (1)(e):
total number of shares means the total number of demutualisation shares issued.

326‑85  Disposal by pre‑CGT member of a demutualisation share (other than a demutualisation original share) or an interest in such a share on or after demutualisation listing day where member did not acquire membership rights by disposing of membership rights in another mutual entity
 (1) If:
 (a) the disposal is a disposal of a demutualisation share (other than a demutualisation original share) or an interest in such a share; and
 (b) the disposer did not acquire membership rights in the demutualising entity by disposing of membership rights in another mutual entity; and
 (c) the disposer is a pre‑CGT member; and
 (d) the disposal occurs on or after the demutualisation listing day;
then, for the purpose of working out whether the disposer made a capital gain or capital loss from the disposal, the disposer is taken to have done the following:
 (e) to have paid for the acquisition of the share or interest the lesser of the following amounts:
 (i) the amount worked out by using the formula:

 (ii) the amount worked out by using the formula:

 (f) to have paid the amount referred to in paragraph (e) on the demutualisation resolution day;
 (g) to have acquired the share or interest on the demutualisation resolution day.
 (2) In the formula in subparagraph (1)(e)(i):
total number of shares means the total number of demutualisation shares issued.

326‑90  Disposal by pre‑CGT member of a demutualisation share (other than a demutualisation original share) or an interest in such a share where member acquired membership rights by disposing of membership rights in another mutual entity
 (1) If:
 (a) the disposal is a disposal of a demutualisation share (other than a demutualisation original share) or an interest in such a share; and
 (b) the disposer acquired membership rights in the demutualising entity by disposing of membership rights in another mutual entity; and
 (c) the disposer is a pre‑CGT member;
then, for the purpose of working out whether the disposer made a capital gain or capital loss from the disposal, the disposer is taken to