Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:1_22:p2
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 1 cl 22 (pt 2/2)
Character Range: 82795–84274

a new share; and
 (b) the person becomes the beneficial owner of the new share immediately after the consolidation takes place;
the new share is taken to be exactly the same share as the old shares.

What happens in case of consolidation of units in a unit trust

 (5) If:
 (a) a particular unit (an old unit) in a unit trust of which a person is the holder at the start of a *test period and other units (each of which also called an old unit) in the trust of which the person is the holder at the start of that period are consolidated into a new unit; and
 (b) the person becomes the holder of the new unit immediately after the consolidation takes place;
the new unit is taken to be exactly the same unit as the old units.

Test period

 (6) A test period is:
 (a) for the purpose of determining whether a condition in section 165‑12 has been satisfied—the *ownership test period; or
 (b) for the purpose of determining whether a test time is a changeover time for the purposes of section 165‑115C—the period between the reference time referred to in subsection 165‑115A(2A) and the test time; or
 (c) for the purpose of determining whether a test time is an alteration time for the purposes of section 165‑115L—the period between the reference time referred to in subsection 165‑115L(2) and the test time.

Satisfaction by primary test by public company

 (7) A *public company is taken to satisfy the primary test if it is reasonable to assume that the test is satisfied.