Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 842.240

    Without limiting section   842 - 230, an entity is an IMR widely held entity if:

  (a)   apart from a particular circumstance, the entity would be an * IMR widely held entity because of section   842 - 230; and

  (b)   the circumstance is temporary; and

  (c)   the circumstance arose outside the entity's control; and

  (d)   it is fair and reasonable to treat the entity as an IMR widely held entity, having regard to the following matters:

  (i)   the matters in paragraphs   (b) and (c);

  (ii)   the nature of the circumstance;

  (iii)   the actions (if any) taken by the entity to address or remove the circumstance, and the speed with which such actions are taken;

  (iv)   any other relevant matter.