Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:1_15:p3
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 1 cl 15 (pt 3/4)
Character Range: 18561–21017

primary test see subsections 165‑150(1), 165‑155(1) and 165‑160(1).

 (3) Apply the alternative test if one or more other companies beneficially owned *shares or interests in shares in the company at the reference time.

Note: For the alternative test see subsections 165‑150(2), 165‑155(2) and 165‑160(2).

 (4) A *test time that would, apart from this subsection, be a changeover time in respect of the company because of the application of subsection (1) is taken not to be a changeover time if:
 (a) that subsection would not have applied except for the operation of section 165‑165; and
 (b) the company has information from which it would be reasonable to conclude that less than 50% of the company's unrealised net loss at the test time has been reflected in deductions, capital losses, or reduced assessable income, that occurred, or could occur in future, because of the happening of any *CGT event in relation to any direct or indirect equity interests in the company during the period from the reference time to the test time.

 (5) The happening of any *CGT event in relation to a direct or indirect equity interest in the company that results in the time of the happening of the event being a changeover time in respect of the company is taken, for the purposes of paragraph (4)(b), to have occurred during the period referred to in that paragraph.

 (6) The direct equity interests in the company are *shares in the company.

 (7) The indirect equity interests in the company are *shares or other interests in entities interposed between the company and persons referred to in subsection (1).

165‑115D  Changeover time—change in control of company

 (1) A time (the test time) is also a changeover time in respect of a company if, at the test time:
 (a) a person or persons who did not control, and were not able to control, the voting power in the company at the reference time began to control, or became able to control, that voting power immediately after the test time; and
 (b) that person or those persons so began, or became able, to control that voting power for the purpose of:
 (i) getting some benefit or advantage in relation to how this Act applies; or
 (ii) getting such a benefit or advantage for someone else;
  or for purposes including that purpose.

 (2) In this section:

control of the voting power in a company means control of that voting power either directly, or indirectly through one or more interposed entities.