Document ID: chunk:federal_register_of_legislation:F2015L00068:front:0:p35
Version: federal_register_of_legislation:F2015L00068
Segment Type: other
Provision Reference: 
Character Range: 90726–93411

attributable stakeholders of the company or trust, before or after the transfer.

9 Transfer to company or trust with 2 or more attributable stakeholders

 (1) This section applies if, in relation to a transfer of property to a company or a trust:
 (a) the transfer is made by an attributable stakeholder of the company or trust; and
 (b) before the transfer, there were 2 or more attributable stakeholders of the company or trust.

 (2) This section also applies if, in relation to a transfer of property to a company or a trust:
 (a) the transfer is made by an attributable stakeholder of the company or trust; and
 (b) after the transfer, there were 2 or more attributable stakeholders of the company or trust.

 (3) The Commission must take into account the asset attribution percentage of each attributable stakeholder of the company or trust, before and after the transfer of the property.

10 Transfer to company or trust by individual who becomes attributable stakeholder

 (1) This section applies if, in relation to a transfer of property to a company or a trust:
 (a) the transfer is made by an individual who is not an attributable stakeholder of the company or trust; and
 (b) as a result of the transfer, the individual is an attributable stakeholder.

 (2) The Commission must take into account the asset attribution percentage of each attributable stakeholder of the company or trust, before and after the transfer of the property.

Part 3 Disposal of asset (on or after 1 January 2002) by company or trust

11 Purpose of Part 3

  This Part sets out decision-making principles with which the Commission must comply in making a determination for subsection 52ZZX (3) of the Act.

12 Disposal to individual by company or trust

 (1) This section applies if:
 (a) a company pays a dividend to an individual who is an attributable stakeholder of the company; and
 (b) the asset disposal provisions apply, and are taken to have applied, as if the individual had disposed of an asset of the individual.

 (2) This section also applies if:
 (a) a trust makes a distribution to an individual who is an attributable stakeholder of the trust; and
 (b) the asset disposal provisions apply, and are taken to have applied, as if the individual had disposed of an asset of the individual.

 (3) The Commission must consider whether the amount of the dividend or the value of the distribution is reasonable, having regard to the individual's asset attribution percentage, in relation to the company or trust, before and after the disposal of the asset.

13 Disposal by way of dividend or distribution to genuine investor

 (1) This section applies if:
 (a) during a derivation