44Lease assigned to new group company

#### 44 Lease assigned to new group company (1) Where: (a) during the reorganisation, the transferring body assigns to a body corporate (in this section called the group company) the benefit of a lease of property by a leasing company to the transferring body; and (b) at the time of the assignment, the group company is a new group company; this section has effect for the purposes of subsection 82AG(3) of the Tax Act. (2) The assignment shall be disregarded. (3) In relation to a time at or after the assignment, the group company shall be deemed to be, and the transferring body shall be deemed not to be, the same person as the original lessee under the lease.