Document ID: chunk:federal_register_of_legislation:C2011C00549:clause:3_2ba
Version: federal_register_of_legislation:C2011C00549
Segment Type: clause
Provision Reference: sch 3 cl 2BA
Character Range: 12509–14657

2BA  Designated company groups

 (1) This section sets out the method for identifying a designated company group for the purposes of this Act.

 (2) First, identify a particular overall company group.

 (3) Second, identify all of the members of the overall company group that are entitled to derive assessable receipts in relation to a petroleum project (whether or not the same petroleum project). These members constitute a provisional designated company group.

 (4) Third, if the following conditions are satisfied in relation to a company (the key company):
 (a) the key company is a member of the provisional designated company group;
 (b) the key company is not a subsidiary of any other company in the provisional designated company group;
 (c) each other company in the provisional designated company group is a subsidiary of the key company;
then:
 (d) the provisional designated company group is a designated company group; and
 (e) the key company is the head company of that designated company group.

 (5) Fourth, if:
 (a) subsection (4) does not apply; and
 (b) each company in the provisional designated company group is a subsidiary of another company (the key company) that:
 (i) is a member of the overall company group; and
 (ii) is not a member of the provisional designated company group;
then:
 (c) both:
 (i) the key company; and
 (ii) the members of the provisional designated company group;
  constitute a designated company group; and
 (d) the key company is the head company of that designated company group.

 (6) Subsection (5) has effect subject to subsection (7).

 (7) If:
 (a) a designated company group is covered by subsection (5); and
 (b) the head company of the designated company group is a subsidiary of another company (the higher‑tier company); and
 (c) the higher‑tier company is a member of the overall company group; and
 (d) the higher‑tier company is not a member of the provisional designated company group;
there is taken not to be a designated company group of which:
 (e) the higher‑tier company is the head company; and
 (f) any member of the provisional designated company group is a member.