Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_3:p3
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 3/22)
Character Range: 370185–372799

You can choose to obtain a roll‑over if:

 (a) you own *shares (the original shares) of a certain class in a company; and

 (b) the company redeems or cancels all shares of that class; and

 (c) the company issues you with new shares (and you receive nothing else) in substitution for the original shares; and

 (d) the market value of the new shares just after they were issued is at least equal to the market value of the original shares just before they were redeemed or cancelled; and

 (e) the total paid up capital of the company just after the new shares were issued is the same as just before the original shares were redeemed or cancelled; and

 (f) one of these requirements is satisfied:

 (i) you are an Australian resident at the time of the redemption or cancellation; or

 (ii) if you are not an Australian resident at that time—the original shares have the *necessary connection with Australia.

Note 1: The roll‑over consequences are set out in Subdivision 124‑A. The original assets are the original shares. The new assets are the new shares.

Note 2: Section 103‑25 tells you when you have to make the choice.

124‑245  Exchange of units in the same unit trust

  You can choose to obtain a roll‑over if:

 (a) you own units (the original units) of a certain class in a unit trust; and

 (b) the trustee redeems or cancels all units of that class; and

 (c) the trustee issues you with new units (and you receive nothing else) in substitution for the original units; and

 (d) the market value of the new units just after they were issued is at least equal to the market value of the original units just before they were redeemed or cancelled; and

 (e) one of these requirements is satisfied:

 (i) you are an Australian resident at the time of the redemption or cancellation; or

 (ii) if you are not an Australian resident at that time—the original units have the *necessary connection with Australia.

Note: The roll‑over consequences are set out in Subdivision 124‑A. The original assets are the original units. The new assets are the new units.

Subdivision 124‑F—Exchange of rights or options

Table of sections

124‑295 Exchange of rights or option to acquire shares in a company
124‑300 Exchange of rights or option to acquire units in a unit trust

124‑295  Exchange of rights or option to acquire shares in a company

 (1) You can choose to obtain a roll‑over if:

 (a) you own rights (the original rights) to *acquire *shares in a company or to acquire an option to acquire *shares in a company; or

 (b) you own an option (the original option) to acquire