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INCOME TAX ASSESSMENT ACT 1936 - SECT 265B

Notices in relation to certain securities

  (1)   Subject to subsection   (2), for the purposes of this section:

  (a)   expressions used in this section that are also used in Division   16E of Part   III have the same respective meanings as in that Division; and

  (b)   sections   159GV (other than subsection   159GV(2)) and 159GZ apply as if references in those sections to this Division   were references to section   265B .

  (2)   Subsection   (1) applies as if paragraph   (c) of the definition of qualifying security in subsection   159GP(1) were omitted.

  (3)   The holder of a security may apply at any time to the issuer for a notice under this section in relation to the security.

  (4)   Where the issuer of a security receives an application under subsection   (3) in relation to the security, the issuer shall within 21 days of receipt of the application issue a notice in writing to the applicant, expressed to be issued under this section and identifying the security, that states that the notice was issued at a specified time on a specified date and:

  (a)   where the security is not a qualifying security--that the security is not a qualifying security; or

  (b)   where the security is a qualifying security--that:

  (i)   the security is a qualifying security;

  (ii)   the security was issued for a specified consideration;

  (iii)   where the security was partially redeemed on one or more occasions before the time of issue of the notice--that the security was partially redeemed by a specified amount or amounts on a specified date or dates; and

  (iv)   where the security was varied to become a qualifying security--the security was varied, for a specified consideration, to become a qualifying security.


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