Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_2:p4
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 4/9)
Character Range: 530552–533176

at that time; and

 (b) any distributions of capital of the entity in respect of each *capital shareholding of less than 1% in the entity at that time.

 (2) If the head entity makes the determination on the basis mentioned in subsection (1), it must also make it on the basis that the *ultimate owners who at that time had the right to receive for their own benefit (whether directly, or *indirectly through one or more interposed entities):

 (a) any *dividends the entity may pay in respect of each *dividend shareholding of less than 1% in the entity at that time; and

 (b) any distributions of capital of the entity in respect of each *capital shareholding of less than 1% in the entity at that time;

did not have that right.

Notional single unitholder

 (3) If the head entity is a unit trust, it may make the determination on the basis that a single notional individual (the notional holder) had the right to receive, for his or her own benefit and directly:

 (a) any income that the entity may distribute in respect of each *income unitholding of less than 1% in the entity at that time; and

 (b) any distributions of capital of the entity in respect of each *capital unitholding of less than 1% in the entity at that time.

 (4) If the head entity makes the determination on the basis mentioned in subsection (3), it must also make it on the basis that the *ultimate owners who at that time had the right to receive for their own benefit (whether directly, or *indirectly through one or more interposed entities):

 (a) any income that the entity may distribute in respect of each *income unitholding of less than 1% in the entity at that time; and

 (b) any distributions of capital of the entity in respect of each *capital unitholding of less than 1% in the entity at that time;

did not have that right.

149‑125  Notional single shareholder or unitholder of interposed company or trust

Notional shareholder

 (1) The entity may make the determination on the basis that, for each interposed company that is covered by paragraph 149‑50(1)(a), (e) or (f), a different single notional individual (the notional holder) had the right to receive, for his or her own benefit and directly:

 (a) any *dividends the interposed company may pay in respect of each *dividend shareholding of less than 1% in the interposed company at that time; and

 (b) any distributions of capital of the interposed company in respect of each *capital shareholding of less than 1% in the interposed company at that time.

 (2) If the head entity makes the determination on the basis mentioned in subsection (1),