Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 124.535

  (1)   This section applies if:

  (a)   you choose to obtain a roll - over under section   124 - 520 or 124 - 525 relating to rights (the replacement rights ) you have as a * member of a company incorporated under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 on account of the following (your original assets ):

  (i)   your interest in the body mentioned in that section;

  (ii)   your other rights relating to the body mentioned in that section; and

  (b)   you * acquired any of your original assets before 20   September 1985.

  (2)   You are taken to have * acquired the replacement rights before 20   September 1985.

  (3)   This section has effect despite subsection   124 - 15(5).