Commonwealth Consolidated Acts

FINANCIAL CORPORATIONS (TRANSFER OF ASSETS AND LIABILITIES) ACT 1993 - SECT 18

    There is a roll - over under Subdivision   126 - B of the Income Tax Assessment Act 1997 (which normally applies only to certain transfers between companies in the same wholly - owned group) if:

  (a)   the trigger event is a transfer to which this Act applies; and

  (b)   the requirements of that Subdivision are met, disregarding:

  (i)   subsections   126 - 50(1), (5), (6), (7), (8) and (9) of that Act; and

  (ii)   section   126 - 55 of that Act.

This is in addition to that Subdivision's effect apart from this section.