Document ID: chunk:federal_register_of_legislation:C2011C00698:clause:5_219
Version: federal_register_of_legislation:C2011C00698
Segment Type: clause
Provision Reference: sch 5 cl 219
Character Range: 159220–159972

219  Subsection 995‑1(1)
Insert:

non‑membership equity interest: an interest in an entity is a non‑membership equity interest in the entity at a time to the extent that it is not an accounting liability (within the meaning of subsection 705‑70(1)) of the entity at that time, if:
 (a) the interest is not a *membership interest in the entity at that time; and
 (b) the interest is not a *debt interest in the entity at that time.
In determining the extent to which the interest is not an accounting liability at that time:
 (c) treat each reference in subsection 705‑70(1) to the joining entity as instead being a reference to the entity; and
 (d) treat the reference in that subsection to the joining time as instead being a reference to that time.