Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p10
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 10/13)
Character Range: 2497075–2499857

of the total capital proceeds of the CGT events (less expenses).
 (2) The facility is treated as not owning the roll‑over interest at the deeming time.
 (3) This section applies for the purposes of:
 (a) applying one of the following provisions (the roll‑over provision) in relation to the transaction:
 (iii) Subdivision 124‑I (Change of incorporation);
 (iv) Subdivision 124‑N (Disposal of assets by a trust to a company);
 (v) Subdivision 124‑Q (Exchange of stapled ownership interests for ownership interests in a unit trust);
 (vi) Division 615 (Roll‑overs for business restructures); and
 (b) the following provisions, to the extent that they relate to a roll‑over under the roll‑over provision that involves the transaction:
 (i) item 2 of the table in subsection 115‑30(1);
 (ii) sections 124‑10 and 124‑15.

Incorporated bodies
 (4) Without limiting this section, it also has effect, in a case covered by subparagraph (3)(a)(iii) (about Subdivision 124‑I), as if each reference in this section to an *ownership interest in a company or trust were a reference to:
 (a) an interest in an incorporated body; and
 (b) any rights relating to the body owned by the entity that owns that interest.
 (5) This section applies, in a case covered by subparagraph (3)(a)(iii) (about Subdivision 124‑I), in relation to rights as a *member of a company incorporated under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 in the same way as it applies in relation to *shares in a company.

Subdivision 124‑B—Asset compulsorily acquired, lost or destroyed

Table of sections

When a roll‑over is available
124‑70 Events giving rise to a roll‑over
124‑75 Other requirements if you receive money
124‑80 Other requirements if you receive an asset

The consequences of a roll‑over being available
124‑85 Consequences for receiving money
124‑90 Consequences for receiving an asset
124‑95 You receive both money and an asset

When a roll‑over is available

124‑70  Events giving rise to a roll‑over
 (1) You may be able to choose a roll‑over if one of these events happens to a *CGT asset (the original asset) you own:
 (a) it is compulsorily *acquired by an *Australian government agency;
 (aa) it is compulsorily acquired by an entity (other than an Australian government agency or a *foreign government agency) under a power of compulsory acquisition conferred by a law covered under subsection (1A);
 (b) it, or part of it, is lost or destroyed;
 (c) you *dispose of it to an entity (other than a foreign government agency) in circumstances meeting all of these conditions:
 (i) the disposal takes place after a notice was served on you by or on behalf of the entity;
 (ii) the notice invited you to negotiate with the entity with a view to the entity acquiring the asset by