Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p72
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 72/95)
Character Range: 5734507–5737189

in exchange, you become the owner of new shares in another company.

Subdivision 615‑A—Choosing to obtain roll‑overs

Table of sections
615‑5 Disposing of interests in one entity for shares in a company
615‑10 Redeeming or cancelling interests in one entity for shares in a company

615‑5  Disposing of interests in one entity for shares in a company
 (1) You can choose to obtain a roll‑over if:
 (a) you are a *member of a company or a unit trust (the original entity); and
 (b) you and at least one other entity (the exchanging members) own all the *shares or units in it; and
 (c) under a *scheme for reorganising its affairs, the exchanging members *dispose of all their shares or units in it to a company (the interposed company) in exchange for shares in the interposed company (and nothing else); and
 (d) the requirements in Subdivision 615‑B are satisfied.
Note 1: For paragraph (c), see section 124‑20 if an exchanging member uses a share sale facility.
Note 2: After the completion of the scheme, later dealings between the interposed company and the original entity may be subject to the rules for consolidated groups (see Part 3‑90).
 (2) You are taken to have chosen to obtain the roll‑over if:
 (a) immediately before the completion time (see section 615‑15), the original entity is the *head company of a *consolidated group; and
 (b) immediately after the completion time, the interposed company is the head company of the group.
Note: The consolidated group continues in existence because of section 703‑70.

615‑10  Redeeming or cancelling interests in one entity for shares in a company
 (1) You can choose to obtain a roll‑over if you are a *member of a company or a unit trust (the original entity), and under a *scheme for reorganising its affairs:
 (a) a company (the interposed company) *acquires one or more, but not all, of the *shares or units in the original entity; and
 (b) these are the first shares or units that the interposed company acquires in the original entity; and
 (c) you and at least one other entity (the exchanging members) own all the remaining shares or units in the original entity; and
 (d) those remaining shares or units are redeemed or cancelled; and
 (e) each exchanging member receives shares (and nothing else) in the interposed company in return for their shares or units in the original entity being redeemed or cancelled;
and the requirements in Subdivision 615‑B are satisfied.
Note: For paragraph (e), see section 124‑20 if an exchanging member uses a share sale facility.
 (2) You are taken to have chosen to obtain the roll‑over if:
 (a) immediately before the completion time (see section 615‑15), the original entity