Document ID: chunk:federal_register_of_legislation:C2007A00078:clause:8_6
Version: federal_register_of_legislation:C2007A00078
Segment Type: clause
Provision Reference: sch 8 cl 6
Character Range: 31196–31925

6  At the end of section 118‑405
Add:

 (4) A partnership that acquired a unit in a unit trust by converting a *convertible note issued by or on behalf of the trustee of the unit trust is treated, for the purposes of subparagraph (1)(d)(ii), as having owned the unit from the time when it last acquired the convertible note.

 (5) Subsection (3) or (4) applies whether or not the acquisition of the *convertible note, or convertible preference share, was an *eligible venture capital investment.

 (6) A partnership that converts a *convertible note into a share or a unit is treated, for the purposes of subparagraph (1)(d)(ii), as continuing to own the convertible note until the partnership no longer owns the share or unit.