(1) An entity can choose a roll-over under this Subdivision if:
(a) the entity makes or could make a choice under Subdivision 310-B (the losses choice ) to transfer the losses of an entity (the transferring entity ); and
(b) the conditions in this section are satisfied for the * arrangement to which the losses choice relates.
(2) The first condition is that, under the * arrangement, one or more * CGT events (the transfer events ) happen in relation to the following assets (the original assets ) of the transferring entity with the result that it ceases to own those assets:
(a) for a losses choice under section 310-10 (original funds)--all of its * CGT assets;
(b) for a losses choice under section 310-15 (life insurance companies)--all of its CGT assets reasonably attributable to the * complying superannuation life insurance policy held by the original fund for the losses choice just before the arrangement was made;
(c) for a losses choice under section 310-20 (pooled superannuation trusts)--all of its CGT assets reasonably attributable to the units in that entity held by the original fund for the losses choice just before the arrangement was made.
(3) The second condition is that the transfer events all happen in the income year (the transfer year ) for the transferring entity that includes the completion time for the losses choice.
(4) The third condition is that, for each transfer event, an asset (the received asset ) becomes an asset of one of the following (the receiving entity ) as a result of the event:
(a) a continuing fund for the losses choice;
(b) a * pooled superannuation trust in which units are held by a continuing fund for the losses choice just after the completion time;
(c) a * life insurance company with which a * complying superannuation life insurance policy is held by a continuing fund for the losses choice just after the completion time.
(5) For the purposes of subsection (2), ignore any * CGT assets retained by the transferring entity:
(a) to pay its existing or expected debts relating to the * arrangement; or
(b) to meet its liabilities relating to individuals who have remained members (within the meaning of the Superannuation Industry (Supervision) Act 1993 ) of the original fund because of circumstances beyond the control of the trustee of that fund.