Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:5_11
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 5 cl 11
Character Range: 398999–399762

11  Subsection 995‑1(1) (definition of fixed entitlement)
Repeal the definition, substitute:
fixed entitlement:
 (a) an entity has a fixed entitlement to a share of the income or capital of a company, partnership or trust if the entity has a fixed entitlement to that share within the meaning of Division 272 in Schedule 2F to the Income Tax Assessment Act 1936; and
 (b) despite paragraph (a) of this definition, a *beneficiary of a *CCIV sub‑fund trust is taken to have a fixed entitlement to a share of the income or capital of the trust as provided by section 195‑120 of this Act.
Note: Section 165‑245 of this Act affects when an entity is taken to have held or had, directly or indirectly, a fixed entitlement to a share of income or capital of a company.