Document ID: chunk:federal_register_of_legislation:C2025C00014:section:121as:p5
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 121AS (pt 5/7)
Character Range: 1075096–1078887

in such a share; or
       (ii) another share (a non‑demutualisation bonus share), or an interest in such a share, where the share is a bonus share mentioned in section 130‑20 (about bonus shares) of the Income Tax Assessment Act 1997 and any of the demutualisation shares (whether or not disposed of at the time) are the original shares mentioned in that section; or

    (b) the interposed holding company, or any of the interposed holding companies, (the disposer) disposes of an asset consisting of either of the following shares in the holding company or an interposed holding company:
       (i) a share (a demutualisation share) acquired before the issue of the shares in the mutual insurance company, or an interest in such a share; or
       (ii) another share (a non‑demutualisation bonus share), or an interest in such a share, where the share is a bonus share mentioned in section 130‑20 (about bonus shares) of the Income Tax Assessment Act 1997 and any of the demutualisation shares (whether or not disposed of at the time) are the original shares mentioned in that section.

   (For the purposes of the modifications relating to this item, if any of the original shares mentioned in that section is a demutualisation share, it is called a demutualisation original share.)

   (The ultimate holding company and interposed holding company are those mentioned in paragraph 121AH(1)(c), 121AI(1)(c), 121AJ(1)(c) or 121AL(1)(c)).
  8 Demutualisation method 2 or 4:
   The rights attaching to the special shares held by the trustee become the same as those attaching to the ordinary shares as mentioned in subparagraph 121AG(1)(b)(ii) or paragraph 121AI(1)(d).                                                                                                                                                                              A capital gain or capital loss arising from a CGT event constituted by the change in the rights is disregarded.
  9 Demutualisation method 2, 4, 5, 6 or 7:
   The trustee (the disposer):                                                                                                                                                                                                                                                                                                                                                    1. The person in the policyholder/member group, instead of the trustee, is taken:
    (a) sells an ordinary share (a demutualisation share) in the company as mentioned in paragraph 121AG(1)(d), 121AI(1)(f), 121AJ(1)(d), 121AK(1)(d) or 121AL(1)(d); or                                                                                                                                                                                                             (a) to have sold the demutualisation share or non‑demutualisation bonus share; and
    (b) sells another share (a non‑demutualisation bonus share), where the share is a bonus share mentioned in section 130‑20 (about bonus shares) of the Income Tax Assessment Act 1997 and any of the demutualisation shares (whether or not sold at the time) are the original shares mentioned in that section.                                                                  (b) to have paid, given and received any consideration that was paid, given or received by the trustee in respect of either share; and
   (For the purposes of the modifications relating to this item, if any of the original shares mentioned in that section is a demutualisation share, it is called a demutualisation original share.)                                                                                                                                                                                 (c)