Document ID: chunk:federal_register_of_legislation:C2025C00014:section:26bb:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 26BB (pt 2/2)
Character Range: 238722–240232

transaction if the parties were independent parties dealing at arm's length with each other; or
 (b) where, for any reason it is not possible or practicable for the Commissioner to ascertain that amount—such amount as the Commissioner determines.
 (4) Subsection (2) does not apply to a gain on the disposal or redemption of a traditional security if:
 (a) the disposal or redemption occurs because the traditional security is converted into ordinary shares in a company that is:
 (i) the issuer of the traditional security; or
 (ii) a connected entity of the issuer of the traditional security; and
 (b) the traditional security was issued on the basis that it will or may convert into ordinary shares in:
 (i) the issuer of the traditional security; or
 (ii) the connected entity.
 (5) Subsection (2) does not apply to a gain on the disposal or redemption of a traditional security if:
 (a) the disposal or redemption is in exchange for ordinary shares in a company that is neither:
 (i) the issuer of the traditional security; nor
 (ii) a connected entity of the issuer of the traditional security; and
 (b) in the case of a disposal—the disposal is to:
 (i) the issuer of the traditional security; or
 (ii) a connected entity of the issuer of the traditional security; and
 (c) the traditional security was issued on the basis that it will or may be:
 (i) disposed of to the issuer of the traditional security or to the connected entity; or
 (ii) redeemed;
  in exchange for ordinary shares in the company.