Commentary on Sections Overview Overview Section 329: Conversion of convertible shares and securities
947.This section sets out cases in which shares in company A, acquired by company B on the conversion of other shares or securities in company A, can be treated as meeting certain requirements in Chapter 4 (qualifying holdings). It is based on paragraph 10D of Schedule 28B to ICTA.
948.If this section applies, the shares in company A acquired on the conversion may be treated as part of company B’s qualifying holdings.