Commentary on Sections Overview Overview Section 690: Receipt of assets of relevant company (circumstance E)
2062.This section is based on section 704 E and 709(3) of ICTA.
2063.Subsection (1) requires that four conditions set out in subsections (2) to (4) and (7) must be satisfied if section 690 is to apply to a person.
2064.Subsection (8) defines “security” and (non-exhaustively) “consideration” and “share” in section 690. It extends “consideration” to include non-contractual receipts of money or money’s worth.