Commentary on Sections Structure of Chapters Overview
2012.These sections perform the same function as sections 498 to 509 for a particular circumstance. This is where, in any insurance year, there has been:
	a part assignment of rights under the policy or contract for money or money’s worth; or
	an assignment of such rights by gift after a part surrender of rights in that year.
2013.Each transaction in that year is the subject of a separate calculation. The rules here ensure that liability attaches to the person who profits from the transaction regardless of the change in the ownership of the rights in the policy or contract (otherwise liability on the gain would attach to the new owner).