Document ID: chunk:federal_register_of_legislation:C2025C00014:section:121as:p6
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 121AS (pt 6/7)
Character Range: 1078467–1082799

the trustee in respect of either share; and
   (For the purposes of the modifications relating to this item, if any of the original shares mentioned in that section is a demutualisation share, it is called a demutualisation original share.)                                                                                                                                                                                 (c) to have done any other act in relation to either share that was done by the trustee.
                                                                                                                                                                                                                                                                                                                                                                                  2. The modifications in item 5 apply to the sale of the demutualisation share or non‑demutualisation bonus share in the same way as they do to the disposal of such shares covered by that item.
  10 Demutualisation method 2, 4, 5, 6 or 7:
   The trustee distributes an ordinary share as mentioned in paragraph 121AG(1)(d), 121AI(1)(f), 121AJ(1)(d), 121AK(1)(d) or 121AL(1)(d).                                                                                                                                                                                                                                       A capital gain or capital loss arising from a CGT event constituted by the distribution is disregarded.

  11 Any demutualisation method:
   A person (the disposer) in the policyholder/member group disposes of an asset consisting of:                                                                                                                                                                                                                                                                                 The same modifications apply as for item 5.
    (a) a share (a demutualisation share), or an interest in such a share, issued or distributed to the person as mentioned in paragraph 121AF(1)(b), 121AG(1)(c) or (d), 121AH(1)(c), 121AI(1)(e) or (f), 121AJ(1)(c) or (d), 121AK(1)(c) or (d) or 121AL(1)(c) or (d); or
    (b) another share (a non‑demutualisation bonus share) in the same company, or an interest in such a share, where the share is a bonus share mentioned in section 130‑20 (about bonus shares) of the Income Tax Assessment Act 1997 and any of the demutualisation shares (whether or not disposed of at the time) are the original shares mentioned in that section.
   (For the purposes of the modifications relating to this item, if any of the original shares mentioned in that section is a demutualisation share, it is called a demutualisation original share.)

  12 Various demutualisation methods:
   A disposal of an asset takes place before the demutualisation listing day, where:                                                                                                                                                                                                                                                                                              1. If the person who is taken to acquire the asset under the roll‑over provision disposes of it before the demutualisation listing day, a capital loss that the person makes from the disposal is disregarded.
    (a) modification 1 of item 3, 4, 5, 6, 7 or 11 of this table applies to the disposal; and                                                                                                                                                                                                                                                                                     2. If the person disposes of the asset on or after the demutualisation listing day, then for the purposes of applying the roll‑over provision to that disposal, the modifications in the item in this table apply as if modification 1 were not made.
    (b) a roll‑over provision (see note 5 to this table) applies to the disposal.

  Notes:
    1. For the purposes of the table, the applicable company valuation amount, in relation to the disposal of an asset or the allocation of an amount