Document ID: chunk:federal_register_of_legislation:F2025L00269:reg:16
Version: federal_register_of_legislation:F2025L00269
Segment Type: reg
Provision Reference: reg 16
Character Range: 5552–6432

16  Application of Division 7 of Part IIIB of Act where value of property decreased after transfer

        1.     This section applies if:

           1.     property is transferred by an individual to a company or trust; and
           2.     on 1 January 2002, the property is owned or controlled by the company or trust; and
           3.     on 1 January 2002, the value of the property is less than it was at the time of its transfer; and
           4.     the decrease in the value of the property is not attributable to any conduct that the Commission reasonably believes was intended to avoid the operation, or minimise the effect, of Division 11A of Part IIIB of the Act.

        1.     The Commission must consider whether, in all the circumstances, the application of Division 7 of Part IIIB of the Act would be unfair or unreasonable in relation to the individual.