Document ID: chunk:federal_register_of_legislation:C2004A03762:body:0:p9
Version: federal_register_of_legislation:C2004A03762
Segment Type: other
Provision Reference: 
Character Range: 20305–22977

determined under subsection (2) or (3) is greater—that greater value.
"(2) For the purposes of subparagraphs (1) (a) (ii) and (b) (ii) in relation to the application of section 18, the value of the issued shares of a corporation, or the aggregate value of the issued shares of a group of corporations, is the value ascertained under the formula:

where:
     C is:
         (a) where the transaction referred to in section 18 is the proposed acquisition of shares—the total consideration for the acquisition; or
         (b) where the transaction is the issue of shares—the total issue price of all the shares to be issued;
     TS is the total number of issued shares, immediately before the proposed acquisition or issue, of the corporation or group of corporations, as the case may be; and
     NS is the number of shares proposed to be acquired or issued, as the case may be.
"(3) For the purposes of subparagraphs (1) (a) (ii) and (b) (ii) in relation to the application of section 26, the value of the issued shares of a corporation, or the aggregate value of the issued shares of a group of corporations, is the value ascertained under the formula:
where:
     C is the consideration for the shares acquired or proposed to be acquired under the agreement referred to in section 26;
     TS is the total number of issued shares, immediately before the acquisition or proposed acquisition, of the corporation or group of corporations, as the case may be; and
     NS is the number of shares to which the agreement relates.
"(4) In determining whether a business is an exempt business in relation to the application of section 19, the value of its total assets is the consideration for the acquisition referred to in that section.
"(5) In determining whether a corporation is an exempt corporation in relation to the application of section 20, the value of its total assets at a particular time is:
     (a) where the corporation is not a holding corporation—the value of those assets as shown in the last balance-sheet of the corporation audited before that time or, if no balance-sheet was audited before that time, as shown at that time in the accounting records of the corporation; or
     (b) where the corporation, is a holding corporation—the aggregate value of the assets of the corporation, and of each of its subsidiaries that is a prescribed corporation carrying on an Australian business, determined, in each case, under paragraph (a).
"(6) In determining whether a business is an exempt business in relation to the application of section 21, the value of its total assets at a particular time is the value determined by a person who was at the time of the