Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p10
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 10/12)
Character Range: 2294115–2296824

notice informed you that if the negotiations were unsuccessful, the exempt land would be compulsorily acquired by the entity;
 (iv) the compulsory acquisition would have been under a power of compulsory acquisition conferred by an Australian law.
Note: For paragraph (b), the entity may be an Australian government agency.
 (2) This section applies to the *CGT event and the exempt land if the CGT event involves:
 (a) your *ownership interest in the exempt land being compulsorily cancelled (however described) or varied (however described) by:
 (i) an *Australian government agency; or
 (ii) an entity under a power conferred by an *Australian law; or
 (b) you surrendering (however described) or varying (however described) your ownership interest in the exempt land in circumstances meeting all of these conditions:
 (i) the surrender or variation takes place after a notice was served on you by or on behalf of an entity;
 (ii) the notice invited you to negotiate with the entity with a view to you agreeing to surrender or vary your ownership interest;
 (iii) the notice informed you that if the negotiations were unsuccessful, your ownership interest would be compulsorily cancelled, or varied, under a power conferred by an Australian law.
Note: For paragraph (b), the entity may be an Australian government agency.
 (3) This section applies to the *CGT event and the exempt land if the CGT event involves:
 (a) an interest or right in or relating to the exempt land being compulsorily conferred on:
 (i) an *Australian government agency; or
 (ii) an entity under a power conferred by an *Australian law; or
 (b) you conferring on an entity an interest or right in or relating to the exempt land in circumstances meeting all of these conditions:
 (i) the conferral takes place after a notice was served on you by or on behalf of an entity;
 (ii) the notice invited you to negotiate with the entity with a view to you agreeing to confer an interest or right in or relating to the exempt land;
 (iii) the notice informed you that if the negotiations were unsuccessful, an interest or right in or relating to the exempt land would be compulsorily conferred on the entity under a power conferred by an Australian law.
Note: For paragraph (b), the entity may be an Australian government agency.
 (4) This section applies to the *CGT event and the exempt land if:
 (a) your *ownership interest in the exempt land:
 (i) was conferred on you by an *Australian government agency; and
 (ii) had a limited, but renewable, period of operation; and
 (b) the CGT event involves that ownership interest not being renewed by that agency.

118‑255  Maximum exempt area
  Your maximum exempt area for the *CGT event and