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No. For Subdivision 124-B of the Income Tax Assessment Act 1997 to apply, the entity acquiring a CGT asset - not being the Commonwealth, a State or a Territory - must be an authority of the Commonwealth or of a State or of a Territory and not merely an entity which is given authority under a Commonwealth, State or Territory Act to acquire the asset. Nor does the Subdivision apply if the entity acquiring the asset is merely authorised to do so by a Commonwealth, State or Territory authority.

The expression 'Australian government agency' is defined in subsection 995-1(1) to mean the Commonwealth, a State or a Territory or an authority of the Commonwealth, a State or a Territory.

The Treasurer announced in attachment M of his press release no 74 of 11 November 1999 that the scope of the involuntary disposal roll-over is to be extended, for involuntary disposals after 1pm Australian eastern summer time on 11 November 1999, to compulsory acquisition of a CGT asset by a private acquirer acting through recourse to a statutory power.