Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:17_3
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 17 cl 3
Character Range: 274235–274796

3  After section 719‑160
Insert:

719‑163  Modified effect of section 701‑35

 (1) This section applies if the transitional group mentioned in section 701‑35 of this Act is a MEC group.

 (2) That section has effect as if paragraph 701‑35(3)(c) were repealed and the following paragraph were substituted:
 (c) when the transitional group came into existence, the test entity was a subsidiary member of the group, other than as:
 (i) a transitional foreign‑held subsidiary of the group (see section 701C‑20); or
 (ii) an eligible tier‑1 company of the group.