Document ID: chunk:federal_register_of_legislation:C2010C00605:clause:3_1:p2
Version: federal_register_of_legislation:C2010C00605
Segment Type: clause
Provision Reference: sch 3 cl 1 (pt 2/3)
Character Range: 44759–47537

or Subdivision C of Division 20 of Part IIIA of that Act applied to cause the membership interest to stop being a *pre‑CGT asset while the other entity held the membership interest or while the member held the membership interest on the previous occasion; and
 (c) if subparagraph (a)(i) applies—at the time of the acquisition, the member *controlled (for value shifting purposes) the other entity, or vice versa, or a third entity controlled (for value shifting purposes) the member and the other entity; and
 (d) if subparagraph (a)(ii) applies—the same entity:
 (i) was a party to each acquisition and at the time of the acquisition controlled (for value shifting purposes) the other party; or
 (ii) was a party to each acquisition and at the time of the acquisition was controlled (for value shifting purposes) by the other party; or
 (iii) was not a party to each acquisition but, at the time of the acquisition, controlled (for value shifting purposes) the parties to the acquisition;
  or any combination of subparagraphs (i) to (iii) occurred in relation to different acquisitions.

Loss of pre‑CGT status because of acquisition from another entity

 (5) The third circumstance for the purpose of paragraph (2)(a) is where:
 (a) either:
 (i) the *member acquired the *membership interest after 16 May 2002 directly from another entity; or
 (ii) the member acquired the membership interest indirectly from another entity or from itself as a result of 2 or more acquisitions, all of which took place after 16 May 2002; and
 (b) the membership interest stopped being a *pre‑CGT asset because of the acquisition from the other entity or from the member while the member held the membership interest on a previous occasion; and
 (c) if subparagraph (a)(i) applies—at the time of the acquisition, the member *controlled (for value shifting purposes) the other entity, or vice versa, or a third entity controlled (for value shifting purposes) the member and the other entity; and
 (d) if subparagraph (a)(ii) applies—the same entity:
 (i) was a party to each acquisition and at the time of the acquisition controlled (for value shifting purposes) the other parties; or
 (ii) was a party to each acquisition and at the time of the acquisition was controlled (for value shifting purposes) by the other party; or
 (iii) was not a party to each acquisition but, at the time of the acquisition, controlled (for value shifting purposes) the parties to the acquisition;
  or any combination of subparagraphs (i) to (iii) occurred in relation to different acquisitions.

Reduction in revenue etc. asset's tax cost setting amount

 (6) The revenue etc. asset's *tax cost setting amount (after any application of section 705‑40, 705‑45 or 705‑50) is instead the amount that would apply