Document ID: chunk:federal_register_of_legislation:C2004A04745:body:0:p15
Version: federal_register_of_legislation:C2004A04745
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Character Range: 36486–39236

This Part to be disregarded in determining the meaning that a provision of the Privacy Act 1988 has apart from this Part

33. In determining the meaning that a provision of the Privacy Act 1988 has apart from this Part, this Part is to be disregarded.

PART 2.4—MODIFICATIONS OF THE INCOME TAX LAW RELATING TO THE RESTRUCTURING OF THE STATE BANK OF SOUTH AUSTRALIA

Division 1—Preliminary

Object of Part

34. The object of this Part is to facilitate the restructuring of the State Bank of South Australia by modifying the effect of the income tax law.

Interpretation

35. An expression used in this Part and in the Income Tax Assessment Act 1936 has the same meaning in this Part as it has in that Act.

Definitions

  36. In this Part:

"designated subsidiary of the State Bank of South Australia" means a company that is an SBSA subsidiary within the meaning of the State Bank (Corporatisation) Act 1994 of South Australia;

"re-transfer provision" means:

     (a) section 16 of the State Bank (Corporatisation) Act 1994 of South Australia; or

  (b) a corresponding provision of a law of another State or of a Territory;

"transfer provision" means:

     (a) section 7 of the State Bank (Corporatisation) Act 1994 of South Australia; or

  (b) a corresponding provision of a law of another State or of a Territory.

Division 2—Bank of South Australia Limited to benefit from the post-26 February 1992 depreciation regime

Amendments to allow Bank of South Australia Limited to benefit from the post-26 February 1992 depreciation regime

37.(1) For the purposes of section 66 of the Taxation Laws Amendment Act (No. 2) 1992, Bank of South Australia Limited is taken not to be, and never to have been, an associate of:

  (a) the State Bank of South Australia; or

  (b) a designated subsidiary of the State Bank of South Australia.

(2) For the purposes of section 66 of the Taxation Laws Amendment Act (No. 2) 1992, a unit of property that was acquired by Bank of South Australia Limited as a result of the operation of a transfer provision is taken to have been acquired by Bank of South Australia Limited under a contract entered into after 26 February 1992.

Division 3—Development allowance and general investment allowance

Development allowance and general investment allowance—acquisition or construction of property

  38.(1) This section applies to a unit of property if:

    (a) the property was acquired, constructed or commenced to be constructed, by:

        (i) the State Bank of South Australia; or

        (ii) a designated subsidiary of the State Bank of South Australia; and

    (b) the property was transferred to Bank of South Australia Limited as a result of the operation of a transfer provision.

(2) The provisions