Document ID: chunk:federal_register_of_legislation:C2012A00018:clause:5_58r
Version: federal_register_of_legislation:C2012A00018
Segment Type: clause
Provision Reference: sch 5 cl 58R
Character Range: 102675–103844

58R  Interests taken to be transferred to leaving entity on leaving
 (1) If:
 (a) at a particular time, a person stops being taken, because of section 58P, to be part of the head company or provisional head company; and
 (b) the entitlement comprising the person's interest in an onshore petroleum project just after that time is all of the entitlement comprising the company's interest in the project just before that time;
section 48 applies as if the person's interest in the project just after that time had been transferred from the company under a transaction of a kind referred to in subsection 48(1A).
 (2) If:
 (a) at a particular time, a person stops being taken, because of section 58P, to be part of the head company or provisional head company; and
 (b) the entitlement comprising the person's interest in an onshore petroleum project just after that time is part, but not all, of the entitlement comprising the company's interest in the project just before that time;
section 48A applies as if the person's interest in the project just after that time had been transferred from the company under a transaction of a kind referred to in subsection 48A(1).