Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993 - SECT 25

25. Section 160ZZI of the Principal Act is amended by inserting after
subsection (3) the following subsection:

"(3A) This Part does not apply in respect of the disposal by a taxpayer of, or
of an interest in, any rights under a policy of life assurance if:

   (a)  the taxpayer is the trustee of a complying superannuation fund, within
        the meaning of Part IX, in relation to the year of income of the
        taxpayer in which the disposal occurred; or

   (b)  the taxpayer is the trustee of a complying ADF, within the meaning of
        Part IX, in relation to the year of income of the taxpayer in which
        the disposal occurred; or

   (c)  the taxpayer is the trustee of a PST, within the meaning of Part IX,
        in relation to the year of income of the taxpayer in which the
        disposal occurred.".