Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 109NB

    A private company is not taken under section   109D to pay a dividend because of a loan made solely for the purpose of enabling the shareholder, or an associate of the shareholder, to acquire an ESS interest under an employee share scheme (within the meaning of the Income Tax Assessment Act 1997 ) to which:

  (a)   Subdivision   83A - B, and the provisions referred to in paragraphs 83A - 33(1)(a) to (c), of that Act apply; or

  (aa)   Subdivision   83A - B, and the provisions referred to in paragraphs 83A - 35(1)(a) and (b), of that Act apply; or

  (b)   Subdivision   83A - C of that Act applies.