Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p25
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 25/66)
Character Range: 6389161–6391689

Commissioner such a return.

719‑45  Application of sections 703‑20 and 703‑25
 (1) For the purposes of this Division, if an item in section 703‑20 refers to an income year, an entity is covered by that item at a particular time if, and only if, that time is in that income year.
 (2) For the purposes of this Division, if a condition in item 1, 2 or 3 of the table in section 703‑25 refers to an income year, an entity meets that condition at a particular time if, and only if, that time is in that income year.

Choice to consolidate a potential MEC group

719‑50  Eligible tier‑1 companies may choose to consolidate a potential MEC group

Making a choice to consolidate
 (1) If:
 (a) a *potential MEC group (the first group) derived from 2 or more *eligible tier‑1 companies of a *top company is in existence at the start of a particular day; and
 (b) that day is after 30 June 2002; and
 (c) none of those eligible tier‑1 companies is already a member of a *MEC group or a *consolidated group;
those eligible tier‑1 companies, jointly, may make a choice in writing that the first group be consolidated on and after that day. If they do so, the choice must specify that day.
Note: The provisional head company must give the Commissioner a notice in the approved form containing information about the group (see sections 719‑76 and 719‑80).

Choice cannot be revoked or specified day amended
 (2) A choice cannot be revoked and the specification of the day cannot be amended.
 (3) A choice can be made no later than:
 (a) if the company mentioned in subsection (3A) is required to give the Commissioner its *income tax return for the income year during which that day occurs—the day on which that company gives the Commissioner that income tax return; or
 (b) otherwise—the last day in the period within which that company would be required to give the Commissioner such a return if it were required to give the Commissioner such a return.
 (3A) The company is:
 (a) in a case where subsection 719‑75(1) or (2) applies—the company that will be the *head company of the group as at the end of the income year; and
 (b) in a case where subsection 719‑75(3) applies—the company that will be the head company of the group immediately before the group ceased to exist.

Company ceases to be an eligible tier‑1 company before choice is given to the Commissioner
 (4) If:
 (a) as a result of a choice:
 (i) subsection 719‑75(1), (2) or (3) would apply to the *MEC group concerned in relation to the *income year of a company in which