Disregard a * capital gain of a * sovereign entity from a * CGT event that happens in relation to a * CGT asset if:
(a) the sovereign entity is covered by section 880- 125; and
(b) the CGT asset is a * membership interest, * non-share equity interest or * debt interest in another entity; and
(c) the requirements in paragraphs 880-105(1)(c), (d) and (e) would be satisfied, on the assumptions that:
(i) the capital gain were an amount of * ordinary income or * statutory income; and
(ii) the amount mentioned in subparagraph (i) became ordinary income or statutory income of the sovereign entity immediately before the time the CGT event happened; and
(iii) references in those paragraphs to the test entity were references to the other entity mentioned in paragraph (b) of this section.