Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p73
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 73/95)
Character Range: 5736946–5739742

Note: For paragraph (e), see section 124‑20 if an exchanging member uses a share sale facility.
 (2) You are taken to have chosen to obtain the roll‑over if:
 (a) immediately before the completion time (see section 615‑15), the original entity is the *head company of a *consolidated group; and
 (b) immediately after the completion time, the interposed company is the head company of the group.
Note: The consolidated group continues in existence because of section 703‑70.
 (3) The original entity, or its trustee if it is a unit trust, can issue other *shares or units to the interposed company as part of the *scheme.
Note: Some of the interposed company's shares or units in the original entity may be taken to be acquired before 20 September 1985: see section 615‑65.

Subdivision 615‑B—Further requirements for choosing to obtain roll‑overs

Table of sections
615‑15 Interposed company must own all the original interests
615‑20 Requirements relating to your interests in the original entity
615‑25 Requirements relating to the interposed company
615‑30 Interposed company must make a particular choice
615‑35 ADI restructures—disregard certain preference shares

615‑15  Interposed company must own all the original interests
  The interposed company must own all the *shares or units in the original entity immediately after the time (the completion time) all the exchanging members have had their shares or units in the original entity disposed of, redeemed or cancelled under the *scheme.

615‑20  Requirements relating to your interests in the original entity
 (1) Immediately after the completion time, each exchanging member must own:
 (a) a whole number of *shares in the interposed company; and
 (b) a percentage of the shares in the interposed company that were issued to all the exchanging members that is equal to the percentage of the shares or units in the original entity that were:
 (i) owned by the member; and
 (ii) disposed of, redeemed or cancelled under the *scheme.
 (2) The following ratios must be equal:
 (a) the ratio of:
 (i) the *market value of each exchanging member's *shares in the interposed company; to
 (ii) the market value of the shares in the interposed company issued to all the exchanging members (worked out immediately after the completion time);
 (b) the ratio of:
 (i) the market value of that member's shares or units in the original entity that were disposed of, redeemed or cancelled under the *scheme; to
 (ii) the market value of all the shares or units in the original entity that were disposed of, redeemed or cancelled under the scheme (worked out immediately before the first disposal, redemption or cancellation).
Example 1: There are 100 shares in A Pty Ltd (the original entity), all having the same rights. B Pty Ltd (the interposed