Document ID: chunk:federal_register_of_legislation:C2004A01344:clause:3_2
Version: federal_register_of_legislation:C2004A01344
Segment Type: clause
Provision Reference: sch 3 cl 2
Character Range: 42300–43105

2  After subsection 5MA(2A)
Insert:

 (2B) Subsection (2) does not apply:
 (a) to a person to whom Division 8A of Part IIIB applies because the person has transferred his or her eligible interest in a sugarcane farm in accordance with paragraph 49Q(1)(a) or (2)(a); or
 (b) if the person's partner has transferred by way of gift:
 (i) to an eligible descendant of the person; or
 (ii) jointly to an eligible descendant of the person and to the descendant's partner;
  his or her eligible interest in a sugarcane farm—to the person's partner;
if the person or the person's partner (as the case may be), on so transferring his or her eligible interest in the farm, has retained a life interest in the dwelling house on the farm, and in the adjacent private land, that constitute his or her principal home.