Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_2:p9
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 9/9)
Character Range: 542874–544264

interest in the asset;

had the interest at all times from and including the end of the *starting day until immediately after the stopping time.

149‑170  Effect of demutualisation of interposed company

 (1) This section modifies how the entity (the head entity) may determine under section 149‑60 the *ultimate owners who had *underlying interests in the asset at a particular time if another entity (the interposed company):

 (a) was:

 (i) a *mutual insurance company; or

 (ii) a *mutual affiliate company;

  at the end of the *starting day (as determined under subsection 149‑60(6)) for the head entity; and

 (b) has since stopped being a company of either of those kinds, but has continued in existence as either a company covered by paragraph 149‑50(1)(a), (e) or (f) or a *publicly traded unit trust; and

 (c) when it stopped being an entity of either of those kinds (the stopping time), had more than 50 members.

 (2) The head entity may make the determination on the basis that an *ultimate owner who:

 (a) immediately before the stopping time was a member of the interposed company; and

 (b) immediately after the stopping time had, through the interposed company, an *underlying interest in the asset;

had the interest at all times from and including the end of the *starting day until immediately after the stopping time.

[The next Part is Part 3‑5.]