Document ID: chunk:federal_register_of_legislation:C2010C00499:clause:9_13:p3
Version: federal_register_of_legislation:C2010C00499
Segment Type: clause
Provision Reference: sch 9 cl 13 (pt 3/9)
Character Range: 66131–68757

of subsections 124‑15(5) and (6).

 (4) Each replacement asset, or part of a replacement asset, to the extent that it relates to one or more original assets that were *acquired before 20 September 1985, is taken to be:
 (a) a separate asset; and
 (b) acquired before 20 September 1985.

 (5) The first element of the *cost base of each replacement asset that you are not taken to have *acquired before 20 September 1985 is the sum of:
 (a) the amount worked out under the formula in subsection (6); and
 (b) either:
 (i) any amount you paid to get the replacement asset (which can include giving property: see section 103‑5); or
 (ii) for a replacement asset, part of which is treated as a separate asset under subsection (4)—such part of any amount you paid to get the asset (which can include giving property: see section 103‑5) as is reasonably attributable to the part of the asset that you are not taken to have acquired before 20 September 1985.

 (6) The formula is:

Note: If an original asset is an old licence that ceases to have effect only partly, subsection (8) modifies this formula.

 (7) The first element of each replacement asset's *reduced cost base is worked out similarly.

 (8) If, in a situation covered by section 124‑880, an old licence mentioned in that section ceases to have effect only partly, then:
 (a) a reference in Subdivision 124‑A to the original asset's *cost base; and
 (b) the reference in subsection (6) of this section to the total of the *cost bases of the original assets;
is taken to be a reference to such part of the cost base of the old licence as is reasonably attributable to the part of the old licence that ceases to have effect.

New owner roll‑overs

124‑900  Old licence roll‑over (new owner)

 (1) There is a roll‑over if:
 (a) a person (the new owner) applies for an *Australian financial services licence during the period beginning on 11 March 2002 and ending on 10 March 2004; and
 (b) at the time the application is made, another person (the original owner) holds one or more licences, registrations, approvals, authorities or other similar things (the old licence or licences) that give the original owner the status of a regulated principal within the meaning of section 1430 of the Corporations Act 2001; and
 (c) the new owner is granted an Australian financial services licence as a result of the application; and
 (d) if the Australian financial services licence is granted on or before 10 March 2004—the old licence or licences cease to have effect (whether wholly or partly) because, as a result of the Australian financial services licence being granted to