20Operation of CGT rules

#### 20 Operation of CGT rules (1) None of the following is to be treated as being a CGT event, or as giving rise to a CGT event, for the purposes of the 1997 Tax Act: (a) any amendment of the Wool International Act made by this Act; (b) the issue of a share under section 16; (c) the creation of a charge over a share under section 17; (d) the registration of a unit in the name of TrusteeCo under section 10; (e) the transfer of any money or property to TrusteeCo under section 10. (2) Any units that were issued under section 22D of the Wool International Act in respect of wool tax paid by a person in the course of carrying on a business are to be treated as being: (a) an asset of that business; and (b) inherently connected with that business; for the purpose of applying Divisions 17A and 17B of Part IIIA of the 1936 Tax Act in relation to a time after the conversion time.