Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An acquisition made by a * limited registration entity is not a * creditable acquisition if an election under subsection 146 - 5(2) is in effect for the entity when the acquisition is made.
(2) However, subsection (1) does not apply, and is taken never to have applied, to the acquisition if you revoke the election under subsection 146 - 5(5) during:
(a) the * financial year in which the acquisition is made; or
(b) the next financial year.
(3) This section has effect despite section 11 - 5 (which is about what is a creditable acquisition).