Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p31
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 31/53)
Character Range: 2989590–2992270

a benefit or advantage for someone else;
  or for purposes including that purpose.
Note 1: A person can still control the voting power in a company that is in liquidation etc.: see section 165‑250.
Note 2: Subdivision 167‑B has special rules for working out voting power in a company whose shares do not all carry the same voting rights, or do not carry all of the voting rights in the company.
 (2) The reference time is:
 (a) if no alteration time occurred in respect of the company before the *test time—the commencement time; or
 (b) otherwise—the time immediately after the last alteration time.
 (3) 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.

165‑115N  Alteration time—declaration by liquidator or administrator
  If a liquidator or administrator makes a declaration referred to in section 104‑145 in relation to a company, the time of the declaration is also an alteration time in respect of the company.

165‑115P  Notional alteration time—disposal of interests in company within 12 months before alteration time
 (1) This section applies if:
 (a) an alteration time occurs in respect of a *loss company; and
 (b) an entity *disposed of an interest in the company (an equity) or a debt (a debt) at a time (the disposal time) within 12 months before the alteration time but not earlier than the commencement time; and
 (c) immediately before the disposal time, the entity had a relevant equity interest or a relevant debt interest in the company that included the equity or debt, or would have had such an interest if any previous disposals of interests or debts by the entity had not occurred; and
 (d) immediately before the alteration time, the entity had a relevant equity interest or a relevant debt interest in the company, or would have had such an interest if any previous disposals of interests or debts by the entity had not occurred.
 (2) The references in paragraphs (1)(c) and (d) to previous *disposals of interests or debts by the entity are references to:
 (a) previous disposals within the period referred to in paragraph (1)(b); and
 (b) previous disposals before that period if those previous disposals and any one or more of the following:
 (i) the disposal of the equity or debt;
 (ii) a disposal referred to in paragraph (a);
 (iii) a disposal at the alteration time;
  occurred as part of an *arrangement.
 (3) The time immediately before the *disposal of the equity or debt is taken to have been an alteration time (a notional alteration time) in respect of the company.
 (4) The entity:
 (a) is taken to have had, immediately