Ownership and consideration
Reconstruction normally requires at least 90% ownership continuity; amalgamation must not substantially change ownership beyond combining it. The transferee is incorporated or raises capital to acquire an undertaking or at least 90% of target voting shares. Buying only property does not qualify. Market value and at least 90% voting-share consideration generally apply unless wholly associated. VCC and ACD-chargeable PHE transfers have exclusions.
Timetable and follow-through
Claim within 14 days of local execution or 30 days of overseas execution. Consideration shares and acquired assets generally have two-year retention periods, and legal transfer must complete within 12 months of the prescribed starting event. Statutory amalgamations and specified further restructurings have exceptions. Report relevant breaches within 30 days; duty and 6% annual interest may be recovered. Section 15 applications carry adjudication fees even if rejected.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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