Document ID: chunk:federal_register_of_legislation:C2024C00866:section:52zzzk
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 52ZZZK
Character Range: 930252–931460

52ZZZK  Adjusted net value of asset
 (1) For the purposes of this Subdivision, the adjusted net value of an asset owned by an individual is 100% of the net value of the asset.
 (2) For the purposes of this Subdivision, the adjusted net value of an asset controlled by an individual is:
 (a) if the entity that owns the asset is a company and the company is a controlled private company in relation to the individual:
 (i) 100% of the net value of the asset; or
 (ii) if the Commission, by writing, determines a lower percentage in relation to the individual and the asset—that lower percentage of the net value of the asset; or
 (b) if the entity that owns the asset is a trust and the trust is a controlled private trust in relation to the individual:
 (i) 100% of the net value of the asset; or
 (ii) if the Commission, by writing, determines a lower percentage in relation to the individual and the asset—that lower percentage of the net value of the asset; or
 (c) if the entity that owns the asset is a business partnership—the individual's share of the net value of the asset.
 (3) In making a determination under this section, the Commission must comply with any relevant decision‑making principles.