Document ID: chunk:federal_register_of_legislation:C2025C00014:section:103a:p4
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 103A (pt 4/9)
Character Range: 901518–904100

of income if:
 (a) at all times during the year of income all the shares in the first‑mentioned company were beneficially owned by a company which, or companies each of which, is a public company for the purposes of subsection (1) in relation to the year of income of that company (in this subsection referred to as the corresponding year of income) that corresponds with the first‑mentioned year of income but which is not, or none of which is:
 (i) a company to which paragraph (2)(c) applies in relation to the corresponding year of income; or
 (ii) a subsidiary of a public company for the purposes of this section in relation to the corresponding year of income by reason of subsection (4B);
 (b) the corresponding year of income, or each of the corresponding years of income, referred to in paragraph (a) ended on the same day as the year of income first‑mentioned in that paragraph;
 (c) at no time during the year of income was a person or were 2 or more persons in a position to affect rights of the relevant holding company or holding companies in connexion with the first‑mentioned company so as to prevent the relevant holding company or holding companies from exercising for its or their own benefit the whole of the voting power in the first‑mentioned company or from receiving for its or their own benefit the whole of any dividends that might be paid by the first‑mentioned company or of any distribution that might be made of capital of the first‑mentioned company; and
 (d) no agreement was entered into before or during the year of income by virtue of which a person or 2 or more persons would be in a position after the year of income so to affect rights of the relevant holding company or holding companies in connexion with the first‑mentioned company.
 (4A) For the purposes of paragraphs 4(c) and (d), a person shall be taken to have been, or to be, in a position at a particular time to affect any rights of the relevant holding company or holding companies in connexion with the company first‑mentioned in subsection (4) (in this subsection referred to as the first‑mentioned company) if at that time that person had or has a right, power or option (whether by virtue of any provision in the constituent document of the first‑mentioned company or by virtue of any agreement or instrument or otherwise) to acquire those rights or to do an act or thing that would prevent the relevant holding company or holding companies from exercising those rights for its or their own benefit or receiving any benefits accruing by reason of those rights.
 (4B) Subject to