(1) Unless subsection (2) or (3) of this section applies, sections 104-175 and 104-180 of the Income Tax Assessment Act 1997 apply if there was a roll-over under former section 160ZZO of the Income Tax Assessment Act 1936 for a disposal of an asset from one company to another company (the transferee ).
(2) If CGT event J1 would happen in relation to the roll-over in a situation involving something happening in relation to the transferee, that event does not happen if there would have been no deemed disposal and re-acquisition of the asset by the transferee in that situation under whichever of these provisions would have been relevant for that situation if it had happened before the start of the 1998-99 income year:
(a) former section 160ZZOA of that Act; or
(b) former paragraphs 160ZZO(1)(g) and (h) of that Act.
(3) In working out whether subsection (2) affects you, take into account provisions of other Acts that amended former Part IIIA of the Income Tax Assessment Act 1936 and that affect the situation referred to in that subsection.