(2)     Subject to subsection (7), where an unbundling company distributes shares in terms of an unbundling transaction, that unbundling company must disregard that distribution for purposes of determining its taxable income or assessed loss, or its net income as contemplated in section 9D.

[Subsection (2) substituted by section 54(1)(b) of Act 45 of 2003, by section 42(1)(d) of Act 31 of 2005 and by section 29(1) of Act 3 of 2008 and by section 34(1)(a) of Act 23 of 2020 deemed effective on 28 October, 2020 and applicable to unbundling transactions entered into on or after that date]