Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 1/59)
Character Range: 2535837–2538435

2                                                 A law other than the Corporations (Aboriginal and Torres Strait Islander) Act 2006           The Corporations (Aboriginal and Torres Strait Islander) Act 2006

 (2) You can choose to obtain a roll‑over if:
 (a) you were a *member of the body just before the switch time; and
 (b) your ownership of your interest in the body ends at a time (the end time) after the switch time; and
 (c) at the end time you have the *shares in the company that you received at the switch time; and
 (d) either you are an Australian resident at the end time or, if you are a foreign resident at the end time:
 (i) each of your interest in the body and your other rights (if any) relating to the body was *taxable Australian property just before the end time; and
 (ii) the shares in the company that you received at the switch time are taxable Australian property at the end time.
Note 1: The roll‑over consequences are set out in Subdivision 124‑A and section 124‑530.
Note 2: Section 103‑25 tells you when you have to make the choice.
 (3) If the company is incorporated under the Corporations (Aboriginal and Torres Strait Islander) Act 2006, subsection (2) applies in relation to rights as a *member of the company in the same way as that subsection applies to *shares in a company.
Note: This may allow you to choose to obtain a roll‑over. The roll‑over consequences are set out in Subdivision 124‑A and section 124‑535.

Special consequences of some roll‑overs

124‑530  Shares in company replacing pre‑CGT and post‑CGT mix of interest and rights in body
 (1) This section applies if:
 (a) you choose to obtain a roll‑over under section 124‑520 or 124‑525 relating to *shares you have in the company on account of the following (your original assets):
 (i) your interest in the body mentioned in that section;
 (ii) your other rights relating to the body mentioned in that section; and
 (b) you *acquired some of your original assets before 20 September 1985 and the rest of them on or after that day.
 (2) You are taken to have *acquired so many of the *shares before 20 September 1985 as is reasonable, having regard to:
 (a) the number and *market value of your original assets; and
 (b) the number and market value of the shares.
 (3) The first element of the *cost base of each of the *shares not taken by subsection (2) to have been *acquired before 20 September 1985 (your post‑CGT shares) is such amount as is reasonable having regard to:
 (a) the total of the cost bases of your original assets that you acquired on or after 20 September 1985; and
 (b)