Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 2/18)
Character Range: 2804970–2807727

the entity:
 (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)); and
 (b) has since stopped being a company of either of those kinds, but either:
 (i) has continued in existence as a company covered by paragraph 149‑50(1)(a) or (e) or a *publicly traded unit trust; or
 (ii) has undergone a demutualisation in relation to which Division 316 (Demutualisation of friendly society health or life insurers) applied and has continued in existence as a company; and
 (c) when it stopped being an entity of either of those kinds (the stopping time), had more than 50 members.
 (2) The entity may require the Commissioner to treat the evidence on the assumption that an *ultimate owner who:
 (a) immediately before the stopping time was a member of the entity; and
 (b) immediately after the stopping time had 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.

149‑170  Effect of demutualisation of interposed company
 (1) This section modifies the treatment of evidence that an entity (the head entity) gives the Commissioner under section 149‑55 as to 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 either:
 (i) has continued in existence as a company covered by paragraph 149‑50(1)(a) or (e) or a *publicly traded unit trust; or
 (ii) has undergone a demutualisation in relation to which Division 316 (Demutualisation of friendly society health or life insurers) applied and has continued in existence as a company; 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 require the Commissioner to treat the evidence on the assumption 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.

Division 152—Small business relief

Guide to Division 152

152‑1  What this Division is about

      To help small business, if the basic conditions for relief are satisfied, capital gains can be reduced by the various concessions in this