BR Prd 06/04
Issued
18 Sep 2006
Effective 
20 November 2006 to 31 March 2007

Demerger of the Australian business of the TOWER group

Applicant
TOWER Consolidated Group

Under this ruling, the pro rata share cancellation by TOWER Ltd, where TOWER Australia Group Ltd shares are distributed to shareholders, does not constitute a "dividend", and the cancellation is not in lieu of the payment of a dividend.