Document ID: chunk:federal_register_of_legislation:C2007A00056:clause:3_139dsb
Version: federal_register_of_legislation:C2007A00056
Segment Type: clause
Provision Reference: sch 3 cl 139DSB
Character Range: 15186–16746

139DSB  Application of Division to stapled securities

 (1) This Division (except this Subdivision) applies, with the modifications set out in this Subdivision, in relation to a stapled security in the same way as it applies in relation to a share (including an ordinary share) in a company.

Note 1: For the definition of stapled security, see subsection 139GCD(1).

Note 2: This means the Division also applies to rights to acquire a stapled security in the same way it applies to rights to acquire a share.

Example: Subsection 139CD(4) will be satisfied if all the securities available for acquisition under the scheme are stapled securities, and all the rights available for acquisition are rights to acquire stapled securities.

 (2) For the purposes of the application of this Division (except this Subdivision) in relation to a stapled security or right to acquire a stapled security, a company, the shares in which are the subject of this Division, is taken to include (as part of the company) each stapled entity for the stapled security.

Note 1: For the definition of stapled entity, see subsection 139GCD(2).

Note 2: There are some modifications to this rule in this Subdivision.

Note 3: This rule has the effect that the company is treated as having all the interests in another entity that stapled entities for the stapled security have.

Example: The condition in subsection 139CD(3) will be satisfied if the company would be a holding company of the employer if all those stapled entities' interests in the employer were counted together.