Document ID: chunk:federal_register_of_legislation:C2025C00014:section:159gzzzd
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 159GZZZD
Character Range: 1454774–1456009

159GZZZD  Meaning of eligible entity, eligible interest and eligible proportion
  For the purposes of this Division, where a holding company holds interests in a subsidiary of the holding company either directly or indirectly through interposed entities:
 (a) a reference to an eligible entity in relation to the holding company and the subsidiary is a reference to the holding company or any of the interposed entities;
 (b) a reference to an eligible interest of an eligible entity is a reference to any interest held by the eligible entity directly in the subsidiary or directly in any other eligible entity in relation to the holding company and the subsidiary; and
 (c) a reference to the eligible proportion in relation to an eligible interest of an eligible entity is a reference to the proportion of the total interests held directly in the subsidiary by all persons and entities that is represented by:
 (i) if the eligible entity holds the eligible interest directly in the subsidiary—the eligible interest; or
 (ii) if, by virtue of holding the eligible interest, the eligible entity holds an interest in the subsidiary indirectly through another eligible entity or other eligible entities—that interest in the subsidiary.