Document ID: chunk:federal_register_of_legislation:C2025C00014:schedule:2h:p3
Version: federal_register_of_legislation:C2025C00014
Segment Type: schedule
Provision Reference: sch 2H (pt 3/165)
Character Range: 2402782–2405493

in section 50‑30 of the Income Tax Assessment Act 1997 (about private health insurers) applies; and
 (bb) is not an entity in relation to whose demutualisation Division 316 (Demutualisation of friendly society health or life insurers) of that Act applies; and
 (c) is not carried on for the object of securing a profit or pecuniary gain for its members; and
 (d) does not have capital divided into shares held by its members; and
 (e) does not hold property in which any of its members has a disposable interest (whether directly or indirectly) except in the event of the winding up of the entity.
 (1A) If the entity is a mutual entity (within the meaning of the Corporations Act 2001), then, for the purposes of subsection (1), disregard the following:
 (a) any MCIs (within the meaning of that Act) issued by the entity;
 (b) any dividends or profits paid or payable in respect of such MCIs;
 (c) any members of the entity who are members by virtue of holding such MCIs.
 (2) A mutual entity that has passed a demutualisation resolution is called a demutualising entity.
 (3) A mutual entity is demutualised if it ceases to be a mutual entity otherwise than by ceasing to be a body corporate. Such an entity is called a demutualised entity.
 (4) A reference to a demutualising entity includes a reference to a demutualised entity.

326‑15  Provisions relating to listing on a stock exchange
 (1) A share is listed if it is listed for quotation in the official list of ASX Limited.
 (2) The expression "listed public company" has the same meaning as in the Income Tax Assessment Act 1997.
 (3) A listing resolution, in relation to the demutualisation of a mutual entity, is a resolution passed by the members of the entity requiring the entity, or a holding company of the entity, to become a listed public company.
 (4) The day on which demutualisation shares are first listed is the demutualisation listing day.

326‑20  Demutualisation resolutions etc.
 (1) The demutualisation resolution, in relation to the demutualisation of a mutual entity, is a resolution passed by the members of the entity to proceed with the demutualisation of the entity.
 (2) The demutualisation resolution day, in relation to the demutualisation of a mutual entity, is the day on which the demutualisation resolution was or is passed.
 (3) The limitation period, in relation to the demutualisation of a mutual entity, is the period of 2 years beginning on the demutualisation resolution day or such further period as the Commissioner allows.

326‑25  Demutualisation shares
  The demutualisation shares, in relation to a demutualised entity, are:
 (a) the ordinary shares in the entity that are issued as mentioned in paragraphs