Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p14
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 14/30)
Character Range: 7815282–7817907

to be related to one another; or
 (b) are taken not to be related to one another.

974‑160  Financial benefit
 (1) In this Act:
financial benefit:
 (a) means anything of economic value; and
 (b) includes property and services; and
 (c) includes anything that regulations made for the purposes of subsection (3) provide is a financial benefit;
even if the transaction that confers the benefit on an entity also imposes an obligation on the entity.
 (2) In applying subsection (1), benefits and obligations are to be looked at separately and not set off against each other.
 (3) The regulations may provide that a thing specified in the regulations is a financial benefit for the purposes of this Act.

974‑165  Convertible and converting interests
  An interest (the first interest) is an interest that will or may convert into another interest (the second interest) if:
 (a) the first interest, or a part of the first interest, must be or may be converted into the second interest; or
 (b) the first interest, or a part of the first interest, must be or may be redeemed, repaid or satisfied by:
 (i) the issue or transfer of the second interest (whether to the holder of the first interest or to some other person); or
 (ii) the acquisition of the second interest (whether by the holder of the first interest or by some other person); or
 (iii) the application in or towards paying‑up (in whole or in part) the balance unpaid on the second interest (whether the second interest is to be issued to the holder of the first interest or to some other person); or
 (c) the holder of the first interest has, or is to have, a right or option to have allotted or transferred to the holder or to some other person, or for the holder or some other person otherwise to acquire:
 (i) the second interest; or
 (ii) a right or option to acquire the second interest.

Division 975—Concepts about companies

Table of Subdivisions
975‑A General
975‑G What is a company's share capital account?
975‑W Wholly‑owned groups of companies

Subdivision 975‑A—General

Table of sections
975‑150 Position to affect rights in relation to a company
975‑155 When is an entity a controller (for CGT purposes) of a company?
975‑160 When an entity has an associate‑inclusive control interest

975‑150  Position to affect rights in relation to a company
 (1) A person is in a position to affect rights of a company in relation to another company if the person has a right, power or option:
 (a) to acquire those rights from one or other of those companies; or
 (b) to do something that would prevent one or other of those companies from exercising its rights