Document ID: chunk:federal_register_of_legislation:F2024L01740:front:0:p87
Version: federal_register_of_legislation:F2024L01740
Segment Type: other
Provision Reference: 
Character Range: 217928–220528

merged Group for a Fiscal Year in the test period (whether or not the merged Group existed in the Fiscal Year):
 (a) if subparagraph (2)(a)(i) applies—each amount shown as annual revenue in the Consolidated Financial Statements of the Ultimate Parent Entity of a pre‑merger Group for an accounting period ending within the Fiscal Year;
 (b) if subparagraph (2)(a)(ii) applies—the following amounts:
 (i) an amount shown as annual revenue in the financial statements of the acquirer for an accounting period ending within the Fiscal Year;
 (ii) in the case of a target that is part of a Group for the Fiscal Year—an amount shown as annual revenue in the Consolidated Financial Statements of the Ultimate Parent Entity of the target for an accounting period ending within the Fiscal Year;
 (iii) in the case of a target that is not part of a Group for the Fiscal Year—an amount shown as annual revenue in the financial statements of the target for an accounting period ending within the Fiscal Year.
 (4) For the purposes of this section, a merger means any arrangement under which:
 (a) all of the Group Entities of 2 or more separate Groups are brought under common control such that they are Group Entities of one Group; or
 (b) all (or substantially all) of the Group Entities of a Group, or 2 or more separate Groups, are brought under common control with one or more Entities such that they are Group Entities of one Group; or
 (c) an Entity that is not a member of any Group is brought under common control with another Entity or Group such that they are Group Entities of one Group.

6‑10  Applicable MNE Groups—demergers
 (1) This section specifies conditions for the purposes of paragraph 12(1)(b) of the Act.
 (2) An MNE Group (the demerged Group) meets the conditions specified in this section for a Fiscal Year (the test year) if:
 (a) an Applicable MNE Group demerges (see subsection (3)) into 2 or more Groups; and
 (b) the demerged Group is one of those Groups; and
 (c) the demerged Group is an MNE Group throughout the test year; and
 (d) if the test year is the first Fiscal Year ending after the demerger—the demerged Group's annual revenue for the test year equals or exceeds its GloBE Threshold for the test year; and
 (e) if the test year is the second, third or fourth Fiscal Year ending after the demerger—in at least:
 (i) the test year and a previous Fiscal Year ending after the demerger; or
 (ii) two of the Fiscal Years ending after the demerger and before the test year;
  the demerged Group has annual revenues equalling or exceeding its GloBE Threshold for the relevant