Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p32
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 32/66)
Character Range: 6405805–6408412

to be a member of a MEC group                              The provisional head company of the group
3.                A *cessation event happens to the *provisional head company of a MEC group  The company, or the person (if any) who was its public officer just before it ceased to exist if the company ceased to be the provisional head company because it ceases to exist

 (2) The entity described in column 3 of the relevant item must give notice of the notifiable event:
 (a) if:
 (i) the group came into existence because of a choice under section 719‑50; and
 (ii) the notifiable event happens before the relevant notice is given to the Commissioner under section 719‑76 (notice of choice to consolidate);
  no later than the day mentioned in subsection (3); or
 (b) if:
 (i) the group results from a *special conversion event; and
 (ii) a choice under section 703‑50 is made in relation to the *consolidated group mentioned in paragraph 719‑40(1)(b); and
 (iii) the notifiable event happens before the relevant notice is given to the Commissioner under section 703‑58 (notice of choice to consolidate);
  no later than the day mentioned in subsection (3); or
 (c) in any other case—within 28 days after the notifiable event.
 (3) The day is:
 (a) if the entity is required to give the Commissioner its *income tax return for the income year during which the notifiable event happens—the day on which the company gives the Commissioner that income tax return; or
 (b) otherwise—the last day in the period within which the entity would be required to give the Commissioner such a return if it were required to give the Commissioner such a return.

Effects of change of head company

719‑85  Application
  Sections 719‑90 to 719‑95 set out the effects if:
 (a) a company (the old head company) is the *head company of a *MEC group at the end of an income year; and
 (b) a different company (the new head company) is the head company of the group at the start of the next income year (the transition time).
Note: This case can arise from the operation of section 719‑75, which treats an entity that is the provisional head company of the group at a certain time in the income year as being the group's head company at all times in the income year when the group is in existence.
 The old head company is also taken to become a subsidiary member of the group at the transition time, and the new head company is taken to cease being a subsidiary member at that time. Section 719‑95 ensures that these results do not change the tax position of the group.

719‑90  New head company treated as substituted for