Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:17_2
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 17 cl 2
Character Range: 273432–274235

2  At the end of section 701‑35
Add:

 (2) The provisions are:
 (a) Division 705 of the Income Tax Assessment Act 1997; and
 (b) provisions of this Act modifying the effect of that Division.

 (3) Subsection (1) does not apply if:
 (a) the asset mentioned in subsection (1) is a membership interest in an entity (the test entity); and
 (b) when the CGT event happened:
 (i) the originating company in relation to the roll‑over, or the transferor in relation to the roll‑over relief, was a foreign resident; and
 (ii) the recipient company, or the transferee in relation to the roll‑over relief, was an Australian resident; and
 (c) when the transitional group came into existence, the test entity was a subsidiary member of the group, other than as a transitional foreign‑held subsidiary of the group.