Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_3:p4
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 4/7)
Character Range: 927021–929696

this section and section 45‑920, Subdivision 45‑Q may start applying to the company as if it had already become the provisional head company when it is not yet such a company.

45‑917  Assumption for applying section 45‑710 (single entity rule)
  In applying section 45‑710 to members of a *MEC group at a particular time, the company that is the *provisional head company of the group at that time must be assumed to be the *head company of the group at all times during the period:
 (a) throughout which the group is in existence; and
 (b) that is all or a part of the income year of the company that includes that particular time.

45‑920  Change of provisional head company

Object
 (1) The object of this section (except subsection (9)) is to ensure that, for the purposes of this Part, when a company becomes the new *provisional head company of a *MEC group:
 (a) the company inherits the history of the former provisional head company; and
 (b) the history of the new provisional head company is effectively ignored.
 (2) This section applies to a *provisional head company of a *MEC group (the new provisional head company) that is appointed under subsection 719‑60(3) of the Income Tax Assessment Act 1997 if one of the following conditions is satisfied:
 (a) the conditions in subsection 45‑915(4) are satisfied in relation to the new provisional head company (whether or not Subdivision 45‑Q applies to the company as the provisional head company of the group for any period of time);
 (b) the new provisional head company is so appointed during the *instalment quarter of the company in which the MEC group is *created from a *consolidated group and either:
 (i) the Commissioner gives the *initial head company instalment rate to the *head company of the consolidated group during that instalment quarter; or
 (ii) Subdivision 45‑Q applied to the head company of the consolidated group at the end of the previous instalment quarter.
 (3) Everything that happened before the starting time in relation to the company (the former company) that was the *provisional head company of the *MEC group immediately before the starting time:
 (a) is taken to have happened in relation to the new provisional head company instead of in relation to the former company; and
 (b) is taken to have happened in relation to the new provisional head company instead of what would (apart from this section) be taken to have happened in relation to the new provisional head company before the starting time;
just as if, at all times before the starting time:
 (c) the new provisional head company had been the former company; and
 (d) the former company had been the new provisional