A stapled entity is an agreement by which a legal person (usually an entity) has issued equity instruments “attached” to the equity instruments of another legal person or legal person (usually a trust). “Pinned securities” cannot be traded independently and are quoted at a single price, as long as they are listed. History leads to both (or more) legal entities having common shareholders. Generally speaking, the notebook agreement can only be terminated if it becomes illegal or by a super-majority of holders of pinned titles. The ASIC press release (link to the ASIC website), which communicates the amended classified orders, mentions the following issues regarding the treatment of notebook agreements according to the Australian equivalents of IFRS 3 and IFRS 10: a pinned security is a kind of financial instrument. it consists of two or more securities which are contractually bound by a single sales unit; they cannot be bought or sold separately. the accumulated securities were used, inter alia, in Australia; Notebooks are relatively rare in the rest of the world. [1] The units and shares were then stapled to a Westfield Group stock. There are no consequences of the CGT for Jamie as a result of the notebook of each consolidated unit of the CEF on each new unit of the WFT and the action of the FSF. The notebook has no CGT consequences for you, as individual titles are always treated as separate titles. However, as the example below shows, there may be other aspects of the overall restructuring order that have consequences for the CGT. One of the disadvantages of the notebook is that you can`t buy one without the other. Sometimes the notebook can change the security you have.
For example, you can move further away from a company creditor and closer to a shareholder. (Note that shareholders are usually paid for the last time, if at all, when a company is dissolved.) If you purchased your pinned securities as part of a corporate reorganization, you own individual securities that were not pinned during the restructuring. The cost base and cost reduction of each of these titles depends on the specific terms of the notebook agreement. The agenda document on this topic (link to the IASB website) contains a recommendation from the General Staff not to put the topic on the Committee`s agenda, as “in practice there is no significant diversity and no future is expected.” . . .