Document ID: chunk:federal_register_of_legislation:C2014C00749:clause:15_88
Version: federal_register_of_legislation:C2014C00749
Segment Type: clause
Provision Reference: sch 15 cl 88
Character Range: 443237–444026

88  Subsection 995‑1(1) (definition of under common ownership)
Repeal the definition, substitute:
under common ownership: 2 companies are under common ownership if, and only if:
 (a) they are members of the same *wholly‑owned group; or
 (b) after tracing the direct and indirect ownership of the *shares in each of the companies (through any interposed companies and trusts) to the individuals who ultimately hold it, that ownership is held by the same individuals in the same proportions.
In doing the tracing, ignore *shares whose *dividends can reasonably be regarded as being equivalent to the payment of interest on a loan having regard to:
 (c) how the dividends are calculated; and
 (d) the conditions applying to the payment of the dividends; and
 (e) any other relevant matters.