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Financial Corporations (Transfer of Assets and Liabilities) Act 1993
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Department of the Treasury
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C2016C00633 C17
06 May 2016
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Part 1—Preliminary
1 Short title
2 Commencement
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Part 2—General provisions
3 Interpretation
4 Eligible money market corporation
5 Transferring and receiving corporations
6 Object of Act
7 Application of Act
8 Extension of Act to external Territories
9 Transfer of asset etc. not to require consent etc. of third party
10 Exemption from taxes etc.
11 Compensation for acquisition of property
12 Delegation
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Part 3—Income tax relief for transfers
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Division 1—Preliminary
13 Object of Part
14 Part to be treated as if it were a provision of the income tax law
14A Modified operation of this Part in relation to transfers from subsidiary members of consolidated groups etc.
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Division 2—General relief
15 Asset transfers—general
16 Liability transfers—general
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Division 3—Securities
17 Securities—adjustment of cost base
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Division 4—Capital gains and capital losses
18 Additional roll-over relief
19 For the receiving corporation, asset is taxable Australian property
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Division 5—Trading stock
21 Transfers of trading stock
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Division 6—Bad debts
22 Deductions for bad debts
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Division 7—Interest withholding tax
23 Exemption from interest withholding tax
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Division 8—Tax losses
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Subdivision B—Tax losses and the Income Tax Assessment Act 1997
26A Application of this Subdivision
26C Deduction for tax loss—easing of restrictions on transferring corporation
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Division 9—Continuity of partnerships
27 Transfer of an interest in a partnership does not affect continuity of partnership
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history