Section HA 12 — Income Tax Act 2007: Avoidance arrangements

HA 12 Avoidance arrangements When this section applies (1) This section applies in an income year in which a company is an LAQC. Failure to meet requirements (2) If a share in the company is or has been part of an arrangement whose purpose is to defeat the intent and application of the rules in this subpart, the company is no longer eligible to be an LAQC. Series of arrangements, and 1 among other purposes (3) In subsection (2), the arrangement referred to— (a) includes a series of related or connected arrangements; and (b) may have more than 1 purpose, and it is sufficient that 1 purpose among those other purposes has the effect described. Defined in this Act: arrangement , company , income year , LAQC, share , Compare: 2004 No 35 s HG 14(d)