Document ID: chunk:federal_register_of_legislation:C2011C00698:clause:5_49
Version: federal_register_of_legislation:C2011C00698
Segment Type: clause
Provision Reference: sch 5 cl 49
Character Range: 90983–91554

49  Subsections 705‑227(3), (4) and (5)
Repeal the subsections, substitute:

Membership interests in subsidiary members of group

 (3) In applying section 705‑93 for the purposes of this Subdivision, disregard paragraph 705‑93(1)(f) if:
 (a) the rollover asset mentioned in that section is a *membership interest in an entity that becomes a *subsidiary member at the linked entity joining time; and
 (b) the rollover asset is not held at that time by the entity that becomes the *head company of the group.

Note: The step 3A amount is worked out under section 705‑93.