Commonwealth Consolidated Acts

FINANCIAL CORPORATIONS (TRANSFER OF ASSETS AND LIABILITIES) ACT 1993

TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY

   1.      Short title  
   2.      Commencement  

   PART 2--GENERAL--PROVISIONS

   3.      Interpretation  
   4.      Eligible money market corporation  
   5.      Transferring and receiving corporations  
   6.      Object of Act  
   7.      Application of Act  
   8.      Extension of Act to external Territories  
   9.      Transfer of asset etc. not to require consent etc. of third party  
   10.     Exemption from taxes etc.  
   11.     Compensation for acquisition of property  
   12.     Delegation  

   PART 3--INCOME--TAX RELIEF FOR TRANSFERS

           Division 1--Preliminary

   13.     Object of Part  
   14.     Part to be treated as if it were a provision of the income tax law  
   14A.    Modified operation of this Part in relation to transfers from subsidiary members of consolidated groups etc.  

           Division 2--General relief

   15.     Asset transfers--general  
   16.     Liability transfers--general  

           Division 3--Securities

   17.     Securities--adjustment of cost base  

           Division 4--Capital gains and capital losses

   18.     Additional roll - over relief  
   19.     For the receiving corporation, asset is taxable Australian property  

           Division 5--Trading stock

   21.     Transfers of trading stock  

           Division 6--Bad debts

   22.     Deductions for bad debts  

           Division 7--Interest withholding tax

   23.     Exemption from interest withholding tax  

           Division 8--Tax losses

              Subdivision B--Tax losses and the Income Tax Assessment Act 1997

   26A.    Application of this Subdivision  
   26C.    Deduction for tax loss--easing of restrictions on transferring corporation  

           Division 9--Continuity of partnerships

   27.     Transfer of an interest in a partnership does not affect continuity of partnership