Document ID: chunk:federal_register_of_legislation:F2015L00068:front:0:p37
Version: federal_register_of_legislation:F2015L00068
Segment Type: other
Provision Reference: 
Character Range: 95555–98219

(c) on 1 January 2002, the value of the asset is the same as, or greater than, it was at the time of its disposal.

 (2) The Commission must consider whether, in all the circumstances, the application of the asset disposal provisions would be unfair or unreasonable in relation to the individual.

17 Application of asset disposal provisions where value of asset decreased after disposal

 (1) This section applies if:
 (a) an asset is disposed of by an individual to a company or trust; and
 (b) on 1 January 2002, the asset is owned by the company or trust; and
 (c) on 1 January 2002, the value of the asset is less than it was at the time of its disposal; and
 (d) the decrease in the value of the asset is not attributable to any conduct that the Commission reasonably believes was intended to avoid the operation, or minimise the effect, of Division 11A of Part IIIB  of the Act.

 (2) The Commission must consider whether, in all the circumstances, the application of the asset disposal provisions would be unfair or unreasonable in relation to the individual.

18 Application of asset disposal provisions where company or trust retains value of transferred asset

 (1) This section applies if:
 (a) an asset is disposed of by an individual to a company or trust; and
 (b) before 1 January 2002, the company or trust transferred the asset to another individual or other entity in consideration of an arm's length amount; and
 (c) the company or trust retained the amount or value of the consideration.

 (2) The Commission must consider whether, in all the circumstances, the application of the asset disposal provisions would be unfair or unreasonable in relation to the individual.

19 Transfer by member of couple

 (1) This section applies if:
 (a) an individual, who is a member of a couple, disposes of an asset to a company or trust before 1 January 2002; and
 (b) as a result of the transfer:
 (i) the individual is the only attributable stakeholder, on 1 January 2002, of the company or trust; or
 (ii) both members of the couple are the only attributable stakeholders, on 1 January 2002, of the company or trust.

 (2) The Commission must consider whether, in all the circumstances, the application of the asset disposal provisions would be unfair or unreasonable in relation to the individual.

Part 5 Disposal of asset (before 1 January 2002) by individual whose spouse is attributable stakeholder

20 Purpose of Part 5

  This Part sets out decision-making principles with which the Commission must comply in making a determination for subsection 52ZZZA (1) of the Act.

21 Definitions

  In this Part:
individual means an individual who