Document ID: chunk:federal_register_of_legislation:C2010C00499:clause:9_13:p8
Version: federal_register_of_legislation:C2010C00499
Segment Type: clause
Provision Reference: sch 9 cl 13 (pt 8/9)
Character Range: 78043–80691

is taken to have acquired each replacement asset before that day.

 (7) If the original owner *acquired some of the original assets before 20 September 1985, each replacement asset, or part of a replacement asset, to the extent that it relates to one or more original assets that were *acquired before 20 September 1985, is taken to be:
 (a) a separate asset; and
 (b) acquired before 20 September 1985.

 (8) If subsection (7) applies, the first element of the *cost base of each replacement asset that is not taken to have been *acquired before 20 September 1985 is the sum of:
 (a) the amount worked out under the formula in subsection (9); and
 (b) either:
 (i) any amount the new owner paid to get the replacement asset (which can include giving property: see section 103‑5); or
 (ii) for a replacement asset, part of which is treated as a separate asset under subsection (7)—such part of any amount the new owner paid to get the asset (which can include giving property: see section 103‑5) as is reasonably attributable to the part of the asset that is not taken to have been acquired before 20 September 1985.

 (9) The formula is:

Note: If an original asset is an old licence that ceases to have effect only partly, subsection (11) modifies this formula.

 (10) The first element of each replacement asset's *reduced cost base is worked out similarly.

 (11) If, in a situation covered by section 124‑900, an old licence mentioned in that section ceases to have effect only partly, then a reference in subsection (4) or (9) of this section to the original asset's *cost base is taken to be a reference to such part of the cost base of the old licence as is reasonably attributable to the part of the old licence that ceases to have effect.

Extension of FSR transition period

124‑925  Special extension of the 10 March 2004 cut‑off date (same owner roll‑overs)

  If the Australian Securities and Investments Commission makes a declaration that provides for the relevant old legislation (within the meaning of section 1430 of the Corporations Act 2001) to continue to apply to you until the end of the period declared by the Commission, then:
 (a) the period mentioned in paragraphs 124‑880(a), 124‑885(a) and 124‑890(a) is modified in its application to you so that it ends on the last day of the period declared by the Commission; and
 (b) subparagraph 124‑880(e)(ii) and paragraphs 124‑885(d) and (e) are modified in their application to you so that the day mentioned in those subparagraphs is the last day of the period declared by the Commission.

124‑930  Special extension of the 10 March 2004 cut‑off date (new owner roll‑overs)