Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) an individual has transferred property to a company or trust before 1 January 2002; and
(b) the transfer amounts to a disposal by the individual of ordinary income of the individual; and
(c) apart from this section, under Division 3 of Part 3.10, as a result of the disposition referred to in paragraph (b), a particular amount is included in the individual's ordinary income; and
(d) the individual is an attributable stakeholder of the company or trust on 1 January 2002;
the Secretary may, by writing, determine that:
(e) in a case where the individual's income attribution percentage is 100%--Division 3 of Part 3.10 has effect on or after 1 January 2002, in relation to the disposal of the income referred to in paragraph (b), as if the amount of the disposition were nil; or
(f) in a case where the individual's income attribution percentage is less than 100%--Division 3 of Part 3.10 has effect on and after 1 January 2002, in relation to the disposal of the income referred to in paragraph (b), as if the amount of the disposition were reduced by:
(i) the individual's income attribution percentage as at 1 January 2002; or
(ii) if a higher percentage is specified in the determination--that higher percentage.
(2) A determination under subsection (1) has effect accordingly.
(3) In making a determination under subsection (1), the Secretary must comply with any relevant decision - making principles.