Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:3_43
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 3 cl 43
Character Range: 232850–233580

43  Subsection 46A(6A)
Repeal the subsection, substitute:

 (6A) If:
 (a) the shareholder mentioned in subsection (5) or (6) is a life assurance company; and
 (b) the sum mentioned in paragraph (5)(a), or the net income derived from dividends mentioned in paragraph (5)(b) or subsection (6), is greater than that part of the life assurance company's taxable income in respect of the relevant year that is attributable to shareholders' funds income of the year of income;
the reference to the sum or the net income is taken instead to be a reference to the amount of that part of the life assurance company's taxable income in respect of the relevant year that is attributable to shareholders' funds income of the year of income.