Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:24_17
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 24 cl 17
Character Range: 320873–321854

17  At the end of section 45‑865 in Schedule 1
Add:
 (3) To avoid doubt, if:
 (a) during the *instalment quarter or the *consolidation transitional year mentioned in paragraph (2)(a), the entity is a *subsidiary member of:
 (i) 2 or more *consolidated groups; or
 (ii) one or more consolidated groups and one or more *MEC groups; and
 (b) an amount is taken into account under that paragraph or paragraph (2)(b) in working out the credit to which the *head company of one of the groups is entitled under subsection (1);
that amount is not to be taken into account in working out the credit to which the head company of another of those groups is entitled under that subsection.

 (4) A reference in subsection (3) to subsection (1) or paragraph (2)(a) or (b) includes a reference to that provision in its extended operation in relation to a *MEC group under Subdivision 45‑S.

Note: This section applies to members of a MEC group with the modifications set out in section 45‑930.